MMTC Q1 results showed standalone net profit rising 155.6% year-on-year to Rs 93.73 crore for the quarter ended June 30, 2026, from Rs 36.67 crore a year earlier. The government enterprise disclosed the unaudited standalone and consolidated financial results in a BSE filing on August 11, 2026, following approval at its 491st board meeting in New Delhi.

Standalone revenue from operations declined 50% to Rs 0.68 crore from Rs 1.36 crore in the corresponding quarter. However, other income increased to Rs 145.44 crore from Rs 70.20 crore, taking total income to Rs 146.12 crore, up 104.2% YoY.

Standalone metric Q1 FY27 Q1 FY26 YoY change
Revenue from operations Rs 0.68 crore Rs 1.36 crore Down 50.0%
Total income Rs 146.12 crore Rs 71.56 crore Up 104.2%
Profit before tax Rs 124.55 crore Rs 45.88 crore Up 171.5%
Net profit after tax Rs 93.73 crore Rs 36.67 crore Up 155.6%
Basic and diluted EPS Rs 0.62 Rs 0.24 Up 158.3%

Auditor retains qualification over Anglo Coal provision

The limited review report carried a qualified conclusion concerning the Anglo Coal case. The auditor said MMTC had recognised a provision of Rs 87.76 crore against an estimated remaining obligation of Rs 170.58 crore, resulting in non-recognition of a Rs 82.82 crore provision. According to the report, provisions were consequently understated and contingent liabilities overstated by that amount.

MMTC's management disagreed with the qualification. It said the additional amount remained subject to court adjudication, clarification of the applicable exchange rate and methodology, and adjustment against interest accrued on money deposited with the Delhi High Court. The filing said the next hearing concerning the balance calculation and withholding tax is scheduled for September 22, 2026.

The auditor also highlighted MMTC's interest-bearing advance of Rs 40 crore to its CPF Trust. The trust had repaid Rs 35.50 crore by March 31, 2026, while Rs 3.56 crore was adjusted against capital loss on bad investments on April 28, 2026.

Consolidation scope remains limited

The board approved both standalone and consolidated results and the associated limited review reports. However, the consolidated filing did not include financial information for wholly owned subsidiary MMTC Transnational Pte Ltd, Singapore, because control had passed to liquidators and MMTC said it had no financial inputs for the quarter.

The auditor also noted that results of joint ventures for the quarter were not received and consolidated. The subsidiary is under liquidation pursuant to a Singapore High Court winding-up order. MMTC reported an investment with a book value of Rs 3.14 crore in the subsidiary as of June 30, 2026, for which a provision had already been made.

The board meeting began at 3:30 pm and concluded at 6:30 pm on August 11, 2026. MMTC said the results were also being published on its website.

Source: BSE corporate announcement.