MSTC shares tumble 11% post Q1 earnings; check details

Shares of MSTC Ltd tumbled 11% today after the state run e-commerce firm reported its earnings on August 11 for the quarter ended June.  The earnings were announced after market hours. MSTC stock slipped 10.87% to Rs 385.65 against the previous close of Rs 432.70 on BSE. Market cap of the firm fell to Rs 2728.70 crore on BSE. It opened sharply lower at Rs 421. Total 1.39 lakh shares of MSTC changed hands amounting to a turnover of Rs 5.56 crore on BSE. 

The stock hit a 52 week high of Rs 467.50 on August 8, 2023 and a 52 week low of Rs 239.65 on March 28, 2023.  

In terms of technicals, the relative strength index (RSI) of MSTC stands at 56.3, signaling it's neither tradingin the oversold nor in the overbought territory. MSTC stock has a one-year beta of 1.3. This signals the stock has high volatility. The MSTC stock is trading higher than the 50 day, 100 day, 200 day but lower than the 5 day, 10 day, 20 day and 30 day moving averages.     

Earnings before Interest, Taxes, Depreciation, and Amortisation (EBITDA) slipped to Rs 66.5 crore in Q1 against Rs 71.7 crore in the June 2022 quarter. EBITDA margins too fell to 37.14% in the last quarter against 39.69% in the June 2022 quarter. 

However, revenue rose to Rs 199.8 crore in Q1 against Rs 194.8 crore in the corresponding period of the preceding fiscal. Q1 consolidated net profit fell to Rs 50.6 crore in Q1 against a net profit of Rs 54.3 crore in the corresponding quarter last year. Earnings per share (EPS)  climbed to Rs 33.8 in Q1 against Rs 31.2 in the Juen 2022 quarter.  

MSTC is engaged in trading activities, e-commerce and also disposal of ferrous and non-ferrous scrap, surplus stores, minerals, agri and forest produces etc. 

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