The primary objective of this VRS is to curtail the manpower strength in the company due to non-business activities.
MMTC is an international trading company in India and has been in existence for close to six decades. The Government of India held 89.93% in the company as on March 2023.
On a consolidated basis, MMTC reported net profit of Rs 97.55 crore in Q3 December 2022 as against net loss of Rs 73.90 crore in Q3 December 2021. Net sales declined 67.11% YoY to Rs 763.16 crore in Q3 December 2022.