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MMTC logs Rs 15,000 cr sales turnover in gold jewellery in FY13

Last Updated: Saturday, April 6, 2013 - 20:19

Visakhapatnam: Minerals and Metals Trading Corp (MMTC) on Saturday said it achieved a sales turnover of Rs 15,000 crore in gold jewellery in FY'13 and is eyeing the turnover of Rs 35,000 crore in financial year 2013-14.

"MMTC achieved sales turnover in gold jewellery at Rs 15,000 crore in FY'13. We have set the target of Rs 35,000 crore for fiscal 2014", MMTC Chief General Manager Ashish Majumadar told reporters here.

He was addressing the media ahead of Ugadi festival that marks beginning of new year in Andhra Pradesh and Karnataka.

Majumdar said MMTC clocked sales turnover of Rs 1,000 crore alone from the sale of jewellery at various exhibitions across the country.

He said the company would hold "Festival of Gold" in collaboration with Muthoot Finance at Visakhapatnam from April 10 to April 14, wherein over one lakh designs of the finest jewellery from several states will be showcased.

Majumdar said the festival will be a a one-stop shop for people to make purchases on the occasion of Ugadi.

MMTC, which holds the gold exhibition in Delhi twice a year, has popularised the event by taking it to various cities including Mumbai, Goa, Kolkata, Bangalore, besides MMTC's 22 showrooms.

Majumdar said MMTC was planning to increase the number of its outlets to 100 by 2013-14. "These outlets will market MMTC manufactured precious metals products including medallions and bars", he added.


First Published: Saturday, April 6, 2013 - 20:14
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