MOS Utility shares up 40% over issue price; net profit jumps 72% in FY23

Amid the rising trend of digital payments, shares of MOS Utility hogged the limelight at Dalal Street on Monday. The SME stock, which was listed on NSE's SME platform, in April 2023, is up 40 per cent from its issue price.

For the half year ended on March 31, 2023, MOS Utility reported a 59 per rise on a year-on-year (YoY) basis in the profit after tax (PAT) at Rs 3.72 crore, compared to Rs 2.34 crore in the year ago. Its PAT margins improved to 178 basis points (bps) to 6.73 per cent for the period.

The company clocked a 17 per cent YoY increase in revenue at Rs 55.31 crore in October 2022-March 2023 period, compared to Rs 47.32 crore in the year ago period. Its EBITDA stood at Rs 6.70 crore, rising 94 per cent on a YoY basis, while an EBITDA margin came in at 12.12 per cent, improving 482 bps.

Shares of MOS Utility rebound more than 3 per cent to Rs 108.95 from its day's low at Rs 105.5 on Thursday. The stock is up about 40 per cent from its issue price at Rs 75. The company had raised about Rs 50 crore from its primary markets' offering in April.

For the entire year that ended on March 31, 2023, the company reported a net profit of Rs 5.68 crore, rising 73 per cent compared to the previous year's Rs 3.29 crore. EBITDA came in at Rs 9.69 crore, up 51 per cent, while revenue increased 36 per cent to Rs 109.66 crore.

Incorporated in 2009, MOS Utility provides digital products and services in the B2C, B2B, and financial technology fields through an integrated business model. MOS Utility has seven primary business segments, namely- banking, travel, insurance, utility services, entertainment services, franchisee, and other services.

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