Mumbai, Nov 11 (IANS): Leading IT solutions provider Black Box Ltd on Monday reported robust quarterly and half yearly EBITDA and profit after tax (PAT) growth for the period ended September 30.
EBITDA for the quarter increased to Rs 135 crore, reflecting a growth of 34 per cent YoY and 18 per cent QoQ.
For the first half (H1) of FY25, EBITDA grew by 31 per cent YoY and stood at Rs 250 crore.
EBITDA margins for Q2 FY25 improved substantially by 260 basis points YoY to 9.0 per cent whereas for H1 FY25, EBITDA margins improved by 250 bps YoY and stood at 8.6 per cent, according to the company.
Profit after tax (PAT) for Q2 FY25 stood at Rs 51 crore, growing by 60 per cent YoY and 38 per cent QoQ.
For H1 FY25, PAT increased to Rs 88 crore, reflecting a growth of 58 per cent YoY. PAT margins improved by 140 bps YoY and stood at 3.4 per cent in Q2 FY25 whereas for H1 FY25, PAT margins stood at 3.0 per cent, reflecting a growth of 120 bps YoY.
Revenue for Q2 stood at Rs 1,497 crore, compared to Rs 1,574 crore in Q2 FY24. For H1 FY25, revenue stood at Rs 2,921 crore compared to Rs 3,146 crore in H1 FY24.
“Hold up in decision making, leading to delayed project execution, impacted revenue. However, the pipeline continues to remain strong with order book at $455 million as of September 2024,” said the company.
Black Box said it is committed to drive revenue growth and have undertaken certain strategic initiatives to create an organisation that is ready for the future that will be driven by technological advancements.
“Our strategic focus on reorganising the business into industry verticals and a horizontal business layer will help us to transition into the next phase of growth. A focused approach to targeting premium customers will lead to deeper engagement with our clients making us among the preferred digital infrastructure solutions provider globally,” said Sanjeev Verma, Whole Time Director, Black Box.
“We have secured funding of Rs 386 crore, which will strengthen our balance sheet and help us make accelerated investments to propel growth across key focus areas,” Verma added.
With a focused approach led by experts in each vertical, the company is gearing up for its next phase of growth, the outcome of which are expected from early FY26 onwards.
Deepak Kumar Bansal, Executive Director and Global Chief Financial Officer of Black Box, said, “Our commitment towards better performance achieved through operating leveraging is starting to yield results as our operating and profitability margins continue to rise quarter on quarter.
“As we re-architecture our GTM, we will see further improvement in our operating performance, higher profitability and improved cash flows. At Rs 51 crore of PAT in Q2 FY25, we are already at a run-rate of above Rs 200 crore of PAT, and are hopeful to achieve our full year FY25 profitability targets,” Bansal added.