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mjunction growth trend unhindered in Q1 of FY23

Kolkata, July 26: After closing FY22 with its best ever topline since inception, India’s largest B2B e-commerce company mjunction services limited, kept its growth curve unhindered in Q1 of FY23. The company’s topline in Q1 grew 13% over the same period last year, and 4% over the previous quarter. Value Add grew 12% over the same period last year, and 14% over the last quarter of FY22.

Chairman Mr M C Agrawal, said: “Not resting on our laurels, we are in the process of identifying and finalising our new growth engines for FY23 and beyond. With industry supporting and the entire business ecosystem adopting digitisation and transparency at a fast pace, mjunction is at an interesting juncture in its growth trajectory.”

MD Mr Vinaya Varma said: “While mjunction continues to extend its e-auction business to new categories, it expects a large number of enterprises to get onboard its e-marketplace for non-moving spares, mjValueMart, that can be accessed at www.mjvaluemart.com, to get the best possible realization for their non-moving inventory of MRO (maintenance, repair and operational) spares, by connecting directly with actual users.”

mjunction services limited recently completed 21 years of its growth journey, and adopted the theme of “Transforming for Tomorrow” in keeping with the ever changing and ever dynamic needs of the times.

In Q1 of FY22, it conducted the prestigious e-auction for Board of Control for Cricket in India to fix media rights for IPL seasons 2023-27.
“This is the second time after 2018 that we have conducted e-auction to fix media rights for BCCI, and after the stupendous success of this time, we are open to providing our services to other sporting agencies too,” Mr Varma said.

Some key categories where mjunction conducts e-auctions are agri-produce such as wheat, rice, pulses & oilseeds, oil & gas fields, Idle Assets, Crude Oil, Natural Gas, scrap, lignite and of course steel and coal.