Miscellaneous Services company eMudhra announced Q1FY24 results:
- Income for Q1FY24 was Rs 807.30 million, an increase of 2.2% from Q4FY23.
- Gross profit for Q1FY24 was Rs 594.99 million, representing a gross margin of 73.7%.
- EBITDA for Q1FY24 was Rs 247.53 million, with an EBITDA margin of 30.7%.
- EBIT for Q1FY24 was Rs 200.40 million, with an EBIT margin of 24.8%.
- Profit after tax for Q1FY24 was Rs 163.73 million, with a net margin of 20.3%.
- Basic earnings per share for Q1FY24 was Rs 2.07, an increase of 0.6% from Q4FY23.
Commenting on the first quarter results, V. Srinivasan, Executive Chairman, eMudhra said, “We are pleased to report first-quarter results demonstrating healthy performance with revenue growth of 52.9% YoY, EBITDA growth of 16.9% YoY and PAT growth of 19.4% YoY.
The concept of zero trust is gaining momentum globally with many large enterprises and governments looking to embrace technology to enhance their cyber security posture. Similarly, digital identity-enabled digital trust is becoming a building block for digital transformation. eMudhra has been looking to take elements of both Zero Trust and the concept of Digital Public Infrastructure to other geographies which is starting to yield good results.
During the first quarter, we saw significant growth in international business aided by certain large deals in North America, the Middle East, and Africa regions for enterprise solutions and deals for trust services particularly in SSL/TLS space. To further build the international business, we continue to invest in sales teams and bring onboard people with relevant industry experience. We also completed the acquisition of Ikon Tech and have gradually started positioning our solutions to their customer base in Education and Financial Services in North America."