New Delhi: MSTC Limited reported on Tuesday a jump of 127.72 percent in its standalone Profit after Tax (PAT) at Rs 71.48 crore in the second quarter of FY23 that ended on September 30. The company had posted PAT of Rs 31.39 crore in the same quarter during the last fiscal year. On quarter-on-quarter basis, MSTC recorded an increase of 63.02 percent as the PSU reported a profit of Rs 43.85 crore in the previous quarter that ended on June 30. MSTC has also reported a rise in its H1 profit by 119.29 percent at Rs 115.32 crore, up from Rs 52.59 crore recorded in the corresponding period of the last fiscal.
The company has also reported a drop of 36.52 percent in revenue from operations in the September quarter of the current fiscal as the figure settled at Rs 79.93 crore, down from Rs 125.92 crore reported in the corresponding quarter of the previous financial year. On quarter-on-quarter basis, MSTC's revenue from operations declined by 4 percent as the figure was at Rs 83.36 crore in the June quarter.
However, MSTC's total income increased by 30 percent y-o-y and stood at Rs 183.39 crore in Q2 as compared to Rs 140.80 crore in the last fiscal due to an increase in its other income in the quarter under review. On q-o-q basis, the total income increased from Rs 93.85 crore in the June quarter to Rs 183.39 crore in the September quarter.
The Board has also announced an interim dividend @55 percent, which is Rs 5.50 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," said the MSTC Board.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)