Miniratna company MSTC declares dividend of ₹6.30 per share: Check record date

The Ministry of Steel, Government of India, has administrative authority for MSTC Limited, a Mini Ratna Category-I PSU. the leading PSU organisation delivering e-auction/e-sale, e-procurement services, and the construction of specialised software/solutions that cater to various industry segments. The company has declared its Q3 earnings today along with a dividend of 63% for the financial year 2022-23.

MSTC has said today in a stock exchange filing that “The Board has also declared 2nd Interim Dividend @ 63% i.e. Rs. 6.30 per equity share of face value of Rs.10/- each for the financial year 2022-23. The interim dividend shall be paid within 30 days from the date of its declaration. As per Regulation 42 of the listing regulations the Board has also fixed 22nd February, 2023 as the “record date” for the purpose of ascertaining the eligibility of shareholders for payment of Interim Dividend. The dividend will be credited to the account of the shareholders or the dividend warrant in respect thereof will be dispatched within 30 days from the date of its declaration.”

On a standalone basis, the company posted revenue from operations of ₹70.44 Cr in Q3FY23 compared to ₹85.84 Cr in Q3FY22, representing a fall of 17.94% YoY. MSTC recorded net expenses of ₹28.59 Cr in the quarter ended December 2022 compared to ₹37.90 Cr in the quarter ended December 2021. The company declared a net profit of ₹47.84 Cr in Q3FY23 compared to ₹36.15 Cr in the year-ago quarter, representing a growth of 32.33% YoY. The EPS of MSTC stood at ₹6.80 in Q3FY23 compared to ₹5.14 in Q3FY22.

The company’s total segment-wise revenue reached ₹90.23 Cr in the quarter ended December 2022 against ₹97.18 Cr in the year-ago quarter. This comprises marketing revenue of ₹5.02 Cr in Q3FY23 compared to ₹9.36 Cr in Q3FY22, E-Commerce revenue of ₹77.14 Cr against ₹81.33 Cr in Q3FY22, and others (unallocated) revenue of ₹8.05 Cr against ₹6.48 Cr in the year-ago quarter.

On Friday, the shares of Mstc Limited closed on the NSE at ₹298.20 apiece level, up by 0.98% from the previous close of ₹295.30.

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