Genesys International reported a net profit of Rs 13.60 crore in Q4 FY24, up significantly from the previous year. Revenue also grew substantially, driven by the company's New India Map stack.
New Delhi, May 31 (PTI) Geospatial solutions provider Genesys International on Friday reported a net profit of Rs 13.60 crore for the January-March quarter of 2023-24 against Rs 92.25 lakh in the year-ago period, according to a regulatory filing.
Operational revenue was at Rs 71.17 crore in the last quarter of 2023-24, up 52.65 per cent from Rs 46.62 crore in the fourth quarter of FY23.
"This quarter's results mark the initial impact of the diligent efforts the company has invested in the New India Map stack. The adoption of the company's content program has gained significant traction, and during this quarter, the company secured several prestigious contracts that will be beneficial for its future. In the upcoming quarters, we anticipate substantial progress in terms of product launches across key verticals," said chairman and managing director Sajid Malik.
For the full FY24, net profit declined by 4.87 per cent to Rs 22.07 crore against the previous fiscal's Rs 23.20 crore.
Revenue from operations rose by 9.45 per cent to Rs 198.24 crore in FY24.
The company's shares settled at Rs 517.15 apiece on BSE on Friday, down 0.61 per cent from the previous close. Genesys International Corporation provides advanced mapping, survey, and geospatial services.
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.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback