MMTC Limited Q2 standalone profit falls 93% to Rs 9.47 crore

MMTC Limited reported standalone profit after tax of Rs 9.47 crore for the quarter ended 30 September 2026, down 93% from Rs 133.59 crore a year earlier, as profit before tax after exceptional items fell to Rs 10.95 crore from Rs 392.33 crore. The board approved the unaudited results on 10 November 2026.

Why did MMTC’s September-quarter profit decline?

MMTC’s reported standalone profit declined because the movement from profit before tax before exceptional items to profit before tax after exceptional items was markedly different from the prior-year quarter. Profit before tax before exceptional items rose to Rs 16.29 crore in the quarter ended 30 September 2026 from Rs 14.33 crore in the quarter ended 30 September 2025. However, profit before tax after exceptional items was Rs 10.95 crore, against Rs 392.33 crore a year earlier.

The latest-quarter difference between the two pre-tax measures was Rs 5.34 crore, while the comparable prior-year difference was Rs 378 crore. This comparison indicates that exceptional items had a substantially less favourable effect on the reported pre-tax result in the latest quarter. MMTC’s newspaper extract does not disclose the nature or individual components of the exceptional items.

Profit after tax after exceptional items fell by Rs 124.12 crore year on year, from Rs 133.59 crore to Rs 9.47 crore. MMTC remained profitable in the September 2026 quarter, despite the 93% decline in reported profit. Basic and diluted earnings per share, or EPS, were 6 paise each, compared with 89 paise each in the corresponding quarter of 2025; the company said EPS was not annualised.

How did MMTC’s pre-exceptional profit change in Q2?

MMTC’s standalone profit before tax before exceptional items increased by Rs 1.96 crore to Rs 16.29 crore in the September 2026 quarter. The comparable figure was Rs 14.33 crore in the September 2025 quarter, showing that the pre-exceptional measure moved differently from reported profit after tax.

Total income from operations rose to Rs 1.27 crore in the latest quarter from Rs 1.10 crore a year earlier. The published extract does not include operating expenses, segment revenue, or a reconciliation explaining the increase in pre-exceptional profit before tax. It therefore provides no stated basis for attributing the Rs 1.96 crore rise to a particular business or cost item.

MMTC reported total comprehensive income, comprising profit after tax and other comprehensive income after tax, of a Rs 17.64 crore loss for the September 2026 quarter. This compared with positive total comprehensive income of Rs 107.14 crore in the year-earlier quarter. The extract does not separately state the other comprehensive income component that produced the difference between profit after tax and total comprehensive income.

What do MMTC’s half-year results show?

MMTC’s standalone profit after tax for the half year ended 30 September 2026 was Rs 103.20 crore, down Rs 67.06 crore from Rs 170.26 crore in the half year ended 30 September 2025. The six-month decline was less severe than the 93% fall recorded for the September quarter on its own.

Profit before tax before exceptional items for the six-month period rose to Rs 140.79 crore from Rs 60.20 crore, an increase of Rs 80.59 crore. Yet profit before tax after exceptional items declined to Rs 135.50 crore from Rs 438.21 crore. The comparison again shows that the gap between the two pre-tax measures was much less favourable than in the prior-year half year.

Total income from operations for the half year was Rs 1.95 crore, compared with Rs 2.46 crore a year earlier. Basic and diluted EPS were 69 paise each, compared with Rs 1.14 each in the previous half year. Total comprehensive income was Rs 117.59 crore, down from Rs 176.05 crore.

How did MMTC’s consolidated Q2 result compare with standalone?

MMTC reported consolidated profit after tax of Rs 25.17 crore for the quarter ended 30 September 2026, compared with Rs 170.81 crore in the corresponding prior-year quarter. Consolidated profit exceeded standalone profit of Rs 9.47 crore by Rs 15.70 crore in the latest quarter, matching the reported share of profit of joint venture, net of tax.

In the September 2025 quarter, consolidated profit after tax of Rs 170.81 crore exceeded standalone profit of Rs 133.59 crore by Rs 37.22 crore. The reported joint-venture profit share was also Rs 37.22 crore in that period. The joint-venture contribution therefore decreased by Rs 21.52 crore year on year.

For the half year ended 30 September 2026, consolidated profit after tax was Rs 129.41 crore, against Rs 215.07 crore a year earlier. Consolidated basic and diluted EPS were 86 paise each, versus Rs 1.43 each in the prior-year half year. The consolidated figures included a Rs 26.21 crore share of joint-venture profit, net of tax, for the latest six-month period, compared with Rs 44.81 crore a year earlier.

What balance-sheet and review details did MMTC disclose?

MMTC reported standalone other equity, excluding revaluation reserve, of Rs 1,666.72 crore at 30 September 2026. That was Rs 184.62 crore above Rs 1,482.10 crore at 30 September 2025 and Rs 117.59 crore above Rs 1,549.13 crore at 31 March 2026.

Paid-up equity share capital was unchanged at Rs 150 crore across the presented standalone and consolidated periods, with a face value of Rs 1 per share. Consolidated other equity, excluding revaluation reserve, was Rs 2,114.52 crore at 30 September 2026, compared with Rs 1,773.35 crore at 30 September 2025.

MMTC said its statutory auditors carried out a limited review of the unaudited results under Regulation 33 of the Securities and Exchange Board of India listing regulations. The board reviewed and approved the quarter and half-year results at its meeting on 10 November 2026, while the company’s filing was dated 12 November 2026.

Conclusion

MMTC’s September 2026 standalone result remained profitable at Rs 9.47 crore, but was substantially below the Rs 133.59 crore reported a year earlier. The central comparison is the Rs 1.96 crore increase in pre-exceptional profit before tax alongside the Rs 381.38 crore decline in profit before tax after exceptional items; consolidated profit also reflected a lower joint-venture profit share.

The filing says the detailed quarterly-results format is available on MMTC’s website and the stock-exchange websites. Investors can watch for any further disclosure in that detailed format about the exceptional items, whose nature is not specified in the published extract, and for whether the Rs 140.79 crore first-half pre-exceptional profit before tax is maintained in later results.