IT Consulting & Software company Ksolves India announced Q1FY25 results:
Financial Highlights:
- Record Highest Quarterly Revenue: Achieved the highest quarterly revenue to date, amounting to Rs 31.57 crore.
- Sustained Profitable Growth: Sustained Profitable Growth: Revenue increased by 33%, and Profit After Tax (PAT) rose by 18%, demonstrating consistent growth in both revenue and profitability. Earnings per Share (EPS) demonstrated robust growth, ascending from Rs 6.40 in Q1 FY24 to Rs 7.55 in Q1FY25.
- Workforce Update: As of June 30, 2024, our total headcount stands at 520 employees.
- Noida Office Expansion: Our newly expanded office in Noida is now fully operational, providing a strategic platform for future growth and expansion.
Other Highlights:
- ESOP Scheme: The board of directors has approved the implementation of an Employee Stock Ownership Plan (ESOP) to incentivize employees. Shareholders’ approval is currently being sought.
- Interim Dividend: Announced 1st interim dividend of Rs 8 per share on June 20, 2024 for FY25.
- Expansion into UAE: The Board has approved the establishment of a 100% subsidiary in the UAE to support and expand our customer base in the region.
Statement by Ratan Kumar Srivastava, Chairman and Managing Director: “I am pleased to announce a promising start to FY25 with steady revenue and profitability growth, driven by our teams’ dedication to delivering top-notch customer solutions. The strategic investments in global events have bolstered our market presence, attracting existing and prospective customers. We have decided to establish a wholly-owned subsidiary in the UAE, expanding our footprint. Continued support from our customers, shareholders, employees, and stakeholders is pivotal to our ongoing success.”