The answer to the question, Can I retake MAT is a perfect yes.
Any candidate, who has already given MAT earlier and is not satisfied with that score, can reappear for the same.
You can take the MAT up to an unlimited number.
However MAT is taken four times in a year. So, once you are not able to crack MAT in your first attempt, then one can give it in the next exam.MAT is conducted in February, May, September and December.
Remember that one should reappear for MAT only if he/she feels that the attempt was not 100% and score is below average. Because in cases other than these precious time can be wasted in preparation for MAT and may be the result is worse.