MSTC Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 03, 2023 at 06:52 pm IST
Share
MSTC Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 1,877.73 million compared to INR 1,749.66 million a year ago. Revenue was INR 2,112.39 million compared to INR 2,689.02 million a year ago. Net income was INR 553.37 million compared to INR 636.72 million a year ago. Basic earnings per share from continuing operations was INR 7.86 compared to INR 9.04 a year ago. Diluted earnings per share from continuing operations was INR 7.86 compared to INR 9.04 a year ago.
For the six months, sales was INR 3,667.69 million compared to INR 3,555.48 million a year ago. Revenue was INR 4,109.95 million compared to INR 4,637.21 million a year ago. Net income was INR 1,059.46 million compared to INR 1,179.65 million a year ago. Basic earnings per share from continuing operations was INR 15.05 compared to INR 16.76 a year ago. Diluted earnings per share from continuing operations was INR 15.05 compared to INR 16.76 a year ago.
MSTC Limited is an India-based e-commerce company. The Company is engaged in providing e-commerce related services across diversified industry segment offering e-auction/e-sale, e-procurement services, and development of customized software/solutions. The Company operates through two segments: e-Commerce, and Trading. Its e-Commerce segment provides services for e-auction/s-sale, e-procurement, and development of customized software/solutions. The Company offers e-auction platform to a number of government departments and government-controlled entities. It offers a complete package of services from preparation of the auction catalogue to the issuance of delivery orders and advertisements of the same on a case-to-case basis with e payment and e-wallet facilities. It has conducted e-auction for sale of scraps, minerals, agricultural produce, land parcels, tea, gorgon nut, tendu leaves, timbers, and other forest produce. It also offers end-to-end platform solutions for e-procurement.