MSTC aspires to achieve 20 percent growth in e-commerce revenue in FY23, Surinder Kumar Gupta, chairman and managing director, told CNBC-TV18. Gupta also said that the company will maintain momentum in the e-commerce business.
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The company, formerly known as Metal Scrap Trade Corporation Limited is a government-owned e-commerce service provider, reported earnings for the December 31, 2021-ended quarter with revenues rising along with margins, expanding to 34 percent.
“Growth will come in the last quarter of this financial year and hopefully for the next financial also, we will be striving hard to maintain and better the growth. Our minimum target is 20 percent but we are on to do better than that and we are enlarging and diversifying our bouquet of commodities,” said Gupta.
The company has sufficient cash balance to fund working capital and investments, he said.
For the entire interview, watch the video
