Black Box Q1 Profit Up 55%, Revenue Down - Business News
Aug 14, 2024 15:22
Black Box reported a 55% rise in Q1 profit to Rs 37.09 crore, despite a decline in revenue. The company attributed the profit growth to strong focus on productivity and deal margins.
New Delhi, Aug 14 (PTI) IT company Black Box on Wednesday reported 54.9 per cent rise in consolidated net profit at Rs 37.09 crore for June quarter FY25.
It had posted a net profit of Rs 23.94 crore for the year-ago period, according to a regulatory filing.
Revenue from operations came in at Rs 1,423.3 crore, down from Rs 1,571.4 crore in Q1 FY24.
Profit and revenue saw a decline of 9.31 per cent and 3.85 per cent, respectively, on a sequential basis.
"The growth in topline was affected due to delays in decision-making, leading to delayed project execution coupled with muted demand for our product business from some federal partners during the quarter.
"However, we continue to deliver on EBITDA and profitability over the last few quarters with strong focus on productivity and deal margins, as evidenced by a 28 per cent YoY growth in EBITDA and 55 per cent YoY increase in our profit after tax," said Deepak Kumar Bansal, executive director and global CFO, Black Box.
Black Box whole-time director Sanjeev Verma said the firm's "strategic" exit from low-value, non-accretive customers had a short-term impact on revenue.
"As we move into FY25, our focus will remain on capitalizing on our strong pipeline and robust order book. With each business segment gaining momentum, we are confident in our ability to deliver enhanced performance and meet our revenue and profitability guidance," Verma said.
Shares of Black Box were trading 4.24 per cent lower at Rs 506.95 apiece on the BSE on Wednesday.
Home »
Market News » Black Box Q1 Profit Up 55%, Revenue Down - Business News
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
MORE NEWS
RBI Approves Rajat Verma as DBS Bank India CEO
The Reserve Bank of India has approved Rajat Verma as the new CEO of DBS Bank India,...
PFC Consulting Sets Up SPV for Transmission...
PFC Consulting Ltd has incorporated a project special purpose vehicle (SPV) for...
IKEA India Widens Loss to Rs 1,299 cr in FY24,...
IKEA India reported a widening loss of Rs 1,299.4 crore in FY24, despite a 4.5% revenue...
Lupin Acquires Huminsulin for Diabetes...
Lupin has acquired 'Huminsulin' in India from Eli Lilly and Company to strengthen its...
Power Grid Corp Acquires Rajasthan IV 4A Power...
Power Grid Corporation of India acquired the project special purpose vehicle (SPV)...
Sebi Approves IPOs for Schloss Bangalore, Ather...
Sebi has approved IPO proposals from six companies, including Schloss Bangalore, Ather...
McDonald's Opens First Restaurant in Sikkim,...
McDonald's has opened its first restaurant in Gangtok, Sikkim, marking its entry into...
Bullion Rates Today: Gold, Silver Prices in...
Get the latest bullion rates for gold and silver in Bengaluru. Check today's prices for...
Wheat Sowing Area Up 2.15%, Oilseeds Decline -...
Wheat acreage rose 2.15% in India's ongoing rabi season, while oilseeds acreage fell...
SAIL Wins 'Great Place to Work' Certification...
State-owned SAIL has been certified as a 'Great Place to Work' for the second...
Read More »