MSTC's Profit Surge: E-commerce Drives Growth in Q2

State-owned MSTC reported a 12% YoY increase in net profit to Rs 47.49 crore for Q2, driven by a rise in e-commerce revenues. Total income grew to Rs 102.30 crore, with major contributions from its e-commerce segment. MSTC operates under the Ministry of Steel, offering various e-commerce services.

State-owned MSTC announced a robust growth in its financial performance with over a 12 percent year-on-year increase in consolidated net profit, reaching Rs 47.49 crore for the September quarter. This upswing follows increased revenues, reflecting the company's success in the competitive e-commerce arena.

In a comparative context, MSTC had reported a net profit of Rs 42.34 crore in the same quarter of FY25, underlining the palpable growth trajectory marked in its latest exchange filing. Bolstered largely by its e-commerce segment, the company's total income surged to Rs 102.30 crore from Rs 93.65 crore, showcasing a significant 9 percent increase over the previous year's figures.

The e-commerce division was a key driver, contributing a substantial Rs 97.55 crore in revenues during the second quarter, up from Rs 89.56 crore the previous year. MSTC, operating under the aegis of the Ministry of Steel, distinguishes itself by providing an array of e-commerce services including e-auctions, e-sales, e-procurement, and e-tenders.

(With inputs from agencies.)