MSTC Limited Reports 9% Revenue Growth in Q1, Appoints New Secretarial Auditor
MSTC Limited, a Government of India enterprise, announced Q1 financial results with total income of ₹9,365.88 crore, up 9% year-over-year. Net profit increased 9.5% to ₹4,432.31 crore. E-commerce segment was the primary revenue driver, contributing ₹8,956.85 crore. The company appointed M/s. Basu and Associates as Secretarial Auditor for five years, subject to shareholder approval. MSTC continues to face legal proceedings with Standard Chartered Bank regarding a ₹14,361.97 crore dispute from 2008-09.

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MSTC Limited , a Government of India enterprise, has announced its financial results for the first quarter, showcasing robust growth and strategic developments.
Financial Performance
For the quarter ended June 30, MSTC reported a total income of ₹9,365.88 crore, marking a 9% increase from ₹8,600.61 crore in the same quarter of the previous year. The company's net profit after tax stood at ₹4,432.31 crore, up from ₹4,045.66 crore in the corresponding quarter, representing a growth of 9.5%.
Segment-wise Performance
The E-commerce segment emerged as the primary revenue driver, contributing ₹8,956.85 crore to the total revenue. The Marketing segment generated ₹402.05 crore during the quarter.
Key Financial Metrics
Metric | Current Quarter | Previous Year Quarter |
---|---|---|
Earnings per share (EPS) | ₹6.30 | ₹5.75 |
Employee benefits expenses | ₹2,324.76 crore | ₹2,172.08 crore |
Other expenses | ₹3,402.85 crore | ₹3,153.06 crore |
Appointment of New Secretarial Auditor
In a significant corporate governance move, MSTC's Board of Directors has approved the appointment of M/s. Basu and Associates as the company's Secretarial Auditor. The appointment is for a term of five consecutive years, subject to shareholder approval at the upcoming Annual General Meeting.
Ongoing Legal Proceedings
MSTC continues to face legal proceedings with Standard Chartered Bank regarding borrowings of ₹14,361.97 crore related to a gold jewelry export transaction dispute from 2008-09. The matter remains sub-judice, with various proceedings pending before different forums, including the Bombay High Court and the Civil Court at Alipore, Kolkata.
Management Commentary
Manobendra Ghoshal, Chairman and Managing Director of MSTC Limited, stated, "Our Q1 results demonstrate MSTC's resilience and growth potential. The significant increase in our E-commerce segment revenue underscores the success of our digital initiatives. We remain committed to enhancing shareholder value while navigating ongoing legal challenges."
MSTC Limited continues to play a crucial role in the e-commerce and marketing sectors, with its performance reflecting the company's strong market position and operational efficiency. As the company moves forward, it aims to capitalize on its strengths while addressing legal matters and focusing on sustainable growth strategies.
Historical Stock Returns for MSTC
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
-3.97% | -7.23% | -15.29% | -16.30% | -47.01% | +202.51% |