Vinsys Net Profit Surges 250% to Rs 3.9 Cr in H1
Nov 24, 2023 15:29
VinsysIT Services India's net profit soared by nearly 250% to Rs 3.94 crore in the first half of FY24, driven by growth in training and software development services.
New Delhi, Nov 24 (PTI) VinsysIT Services India has registered nearly 250 per cent rise in standalone net profit to Rs 3.94 crore for the half year ended September 30, up from Rs 1.12 crore during same period last year.
Operating income on a standalone basis increased by about 12 per cent to Rs 20.75 crore during the April-September period, up from Rs 18.58 crore a year ago.
EBITDA was up by nearly 100 per cent to Rs 5.39 crore from Rs 2.69 crore same period last year.
On a consolidated basis, the company's total revenue increased 131 per cent to Rs 79.41 crore during the period under review, up from Rs 34.35 crore during the year-ago period, backed by growth in the training and software development services.
"Vinsys Information Technology Services LLC, United Arab Emirates, wholly owned subsidiary of the company, has incorporated a new company in Qatar by the name Vinsys IT Services LLC, the trade license for which was issued," Vinsys Chairman and Managing Director Vikrant Patil said.
Segment-wise, the company's revenue from training and software development services increased by nearly 20 per cent at Rs 41.29 crore during the period against Rs 34.35 crore last year.
Vinsys is a provider of a wide range of services, including technical and business training, IT development and software solutions, and foreign language services.
With its operations spanning across India, the Gulf, and the US, Vinsys said it helps assist 50 per cent of Fortune 500 companies in achieving their objectives and enhancing their performance.
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