MSTC reports 61.26% operating margin in Q1FY27
Other income of Rs 23.85 cr supplemented operating profit, while the tax rate stood at 25.95%.
Filed 13 Aug 2026, 17:45 IST · after market close · MSTC Ltd (MSTCLTD)
Key takeaways
- MSTC's consolidated operating margin was 61.26% on revenue of Rs 94.24 cr, with expenses at Rs 36.51 cr.
- Other income of Rs 23.85 cr supplemented operating profit and took consolidated profit before tax to Rs 78.63 cr.
- MSTC's 61.26% operating margin was 35.78 percentage points above the 25.48% median for 24 reported Services peers.
Price around the results
Operating margin was well above the Services peer median
MSTC's consolidated operating profit of Rs 57.73 cr on revenue of Rs 94.24 cr produced a 61.26% operating margin. That was 35.78 percentage points above the 25.48% median among 24 Services peers that had reported the quarter. There are no year-on-year or sequential comparisons in the reported data.
Other income was a material contributor to pre-tax profit
Other income of Rs 23.85 cr added to operating profit and lifted profit before tax to Rs 78.63 cr. With no interest expense and depreciation of Rs 2.96 cr, consolidated net profit was Rs 58.22 cr after a 25.95% tax rate. The quarter's earnings therefore included a meaningful contribution beyond operating profit.
Management outlined three platform initiatives
Management said MSTC's B2B travel portal is ready and is being upgraded for future B2C operation. The company also said it is developing a TREDs platform and has applied to the RBI for the required clearance. Management further said an ETP for EPR certification has been developed for CPCB and is awaiting approval to begin operations.
Results were filed after market close
MSTC filed the consolidated results at 17:45 IST on 13 August 2026, after market close. There is no post-result share-price move to assess in this note.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹94 cr |
| Other income | ₹24 cr |
| Expenses | ₹37 cr |
| Operating profit | ₹58 cr |
| Operating margin (%) | 61.26% |
| Interest | ₹0 cr |
| Depreciation | ₹3 cr |
| Profit before tax | ₹79 cr |
| Tax | ₹20 cr |
| Net profit | ₹58 cr |
| EPS (₹) | ₹8.27 |
Operating margin of 61.26% compares with a Services sector median of 25.48% across 24 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
New initiatives
- MSTC's B2B Travel Portal is ready and being upgraded for future B2C operation.
- MSTC is developing a TREDs platform and has applied to RBI for the required clearance.
- MSTC has developed an ETP for EPR certification on behalf of CPCB, pending operational approval.
What to watch
- Whether consolidated operating margin holds above 61.26%.
- The contribution of other income relative to Rs 23.85 cr and profit before tax of Rs 78.63 cr.
- Progress on the travel portal, TREDs platform and ETP initiatives alongside operating profit of Rs 57.73 cr.