MSTC shares rises after securing two-year work contract from Coal India
The company's consolidated net profit surged to Rs 250.85 crore in the quarter that ended December 2024 as against Rs 49.97 crore during the previous quarter that ended December 2023.
MSTC shares rises after securing two year work contract from Coal India
State-owned MSTC Ltd shares rose over 2.76% to Rs 473 as the company announced that it has received a work order from Coal India (CIL) for engagement as an 'e-auction service provider.' Accordingly, the company would conduct an e-auction of coal and coal products of CIL/coal companies for two years.
The company's consolidated net profit surged to Rs 250.85 crore in the quarter that ended December 2024 as against Rs 49.97 crore during the previous quarter that ended December 2023. However, sales declined by 56.14% to Rs 81.14 crore in Q3 FY25 as compared with Q3 FY24.
MSTCs' (formerly known as Metal and Scrap Trading Corporation) core activity is diversified mainly into providing e-auction/e-procurement services and trading of bulk products like ferrous and non-ferrous scrap, coke, finished steel, coal, and petroleum products.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
