IT solutions provider Black Box Limited announced robust growth in profitability during the Oct-Dec quarter on the back of higher efficiencies.
In Q3 FY2024, revenue was flat at Rs 1,655 crores compared to the same quarter last year amid an overall slowdown in IT. On a quarterly basis, revenue grew by 5%. For the nine months, revenue grew by a modest 4% to Rs 4,801 crores.
Q3 EBITDA jumped 62% year-over-year to Rs 116 crores. EBITDA margin expanded substantially by 270 basis points to 7% indicating major cost rationalization.
Net profit skyrocketed over 5 times to Rs 41 crores compared to Rs 8 crores in Q3 FY2023. On a quarterly basis, bottomline grew by 28%.
The company won significant deals worth over $50 million during the quarter across data centers, 5G, connected buildings and other solutions. This provides revenue visibility going ahead.
The company said its strong order book and deal wins in excess of $50Mn during the quarter gave it confidence going forward. “As each of our business segments gathers momentum, it reinforces our confidence in delivering improved performance in the upcoming quarters.”
“Our strong focus on profitability over the last few quarters has started yielding positive results as seen in the exponential growth in bottom-line,” it added.
“We are optimistic this trend of margin enhancement and higher profitability will continue, boosting our confidence in achieving a turnaround performance in fiscal year 2024 and onwards.”
Black Box Limited (formerly AGC Networks Limited) is a trusted global IT solutions provider offering services including managed services, IT infrastructure, unified communications, data centers, cybersecurity, and artificial intelligence.
The company has a presence across six continents with cutting-edge solutions that bring people, ideas and technology together to solve problems for businesses across sectors.
Black Box serves clients across major verticals like banking and finance, government, manufacturing and telecom. Its global delivery model ensures superior service delivery differentiated through technology and domain expertise built over 3 decades.