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IT Consulting & Software company Black Box announced Q4FY24 & FY24 results:
- EBITDA increased by a robust 59% YoY to Rs 428 crore with EBITDA margins at 6.8%, a growth of 250 bps YoY. For Q4FY24 EBITDA increased by 28% YoY to Rs 122 crore with EBITDA margins growth of 260 bps YoY to 8.2%.
- Profit after tax for FY24 increased by 5.8x to Rs 138 crore compared to FY23. For Q4FY24 profit after tax increased by 77% YoY to Rs 41 crore.
Commenting on the results and performance Sanjeev Verma, Whole Time Director, Black Box said, “For FY24, we have been exiting low value and long tail customers which led to a miss on our revenue guidance, however, we were able to achieve our EBITDA guidance and PAT was very close to lower end of the guided range. Our core operations have shown remarkable strength, with significant growth in key areas that underscore the robustness of our business model. The slight deviation from our forecast does not detract from the progress we have made and the solid foundation we have built. With robust pipeline and a strong order book, we are confident in the resilience of our business model. As each of our business segments gains momentum, our belief in delivering improved performance in the upcoming years is further reinforced.”
Deepak Kumar Bansal, Executive Director and Global Chief Financial Officer of Black Box, commented, “The growth in topline was affected due to delays in decision-making, resulting in a hold-up of new orders in the second half of FY24. However, our strong focus on EBITDA and profitability over the last few quarters has begun to show positive outcomes, as evidenced by a 59% YoY growth in EBITDA and 5.8 times YoY increase in our profit after tax for FY24. We are optimistic that this trend will continue, enhancing both margins and overall profitability, and we are confident in achieving strong performance in fiscal year 2025 and beyond.”
FAQ’s on Black Box Ltd Shares
