Tag Revenue Growth

Mumbai, 14th August 2024: Mumbai-based eClerx Services Ltd. has announced its quarterly financial results for the period ending June 30, 2024. The company reported a sequential and Y-o-Y growth in revenue numbers. The Indian IT / ITES firm continues to build on its strong delivery track record and remains focused on pursuing organic growth opportunities across key international markets.

Key highlights from the consolidated financial results reported for the quarter ended June 30, 2024

eClerx’s USD operating revenue increased to $93.3 million vs. $83.9 million posted in Q1FY2023-24, an increase of 11.1% YoY and 1.5% QoQ. EBITDA stood at INR 187.3 crore for the quarter and grew 7.0% compared to INR 175.0 crore recorded in Q1 of the previous fiscal. EBITDA margin decreased from 25.3% in the corresponding quarter to 23.3 % for the current quarter.

• Profit before tax increased to INR 147.9 crore and grew by 5.2 % Y-o-Y, against INR 140.6 crore in last year. Net Profit in this quarter rose by 5.0 % to INR 111.6 crore.
• Basic earnings per share (EPS) for Q1 FY24-25 has improved to INR 23.1; representing a 4.6 % growth when compared with INR 22.1 clocked in Q1 FY2023-24.
• Total delivery headcount was maintained at a similar level to that in the preceding quarter, expanding to 17,628 at the end of the June quarter.

Commenting on the firm’s performance, Mr. Kapil Jain, Managing Director and Group CEO at eClerx said, “We announced our 4-year strategic roadmap last quarter, and I am pleased to note that the early signs are encouraging. Deal pipeline is strong, we are working on several cross-sell initiatives, and our value proposition continues to resonate with clients. We are confident that our strategy will deliver results in the coming quarters.”

The Mumbai-based firm counts many Fortune 2000 companies amongst its list of clients. The company has also continued with its trend of winning awards and recognition for its product and service innovation, notable examples of which are noted below

Key developments, initiatives and recognitions

• eClerx’s GenAI360 Platform won the Silver winner for AI Innovation at the 19th Annual 2024 Globee® Award for Technology in a hotly contested category that saw more than 1,700 nominations
• eClerx Services Ltd also won two Gold Asia-Pacific Stevie® Awards for its pioneering approach in human resources management and technological innovation.

13, August, 2024: Salam Kisan, a pioneering agri-tech platform, has recorded a remarkable 11X growth in revenue for the fiscal year 2023-2024, reaching an impressive total of ₹23.61 crore. This exponential growth showcases the company’s success in leveraging its operational efficiency in drones and technological capabilities to boost overall sales and profitability.

Offering services across 35 districts in Maharashtra, Salam Kisan covered 41,000 acres in drone spraying that generated a revenue of ₹2.41 crore. The success of their drone services and real-time crop calendar with agri-input recommendations has boosted Salam Kisan’s agri-input sales, which recorded a significant ₹5.41 crore. Additionally, the company’s buyback program for farmers using the Salam Kisan platform and services throughout the agricultural cycle offered linkages worth ₹15.225 crore in FY 23-24. By onboarding over 80 FPOs, Salam Kisan makes their advanced agricultural technology accessible to a wider spectrum of farmers.

Salam Kisan is a multi-stack precision farming platform that helps farmers in making informed decisions. They provide an array of services that leverage technology and data insights to empower modern farming practices. These services include an AI-enabled crop calendar for tailored crop management, precision agriculture guidance, customized fertilizer dosage recommendations, drone rental for fertilizer and seed spraying, farm mapping, input product marketplace, farmers community, government convergence, agriculture news, traceability solutions, and guaranteed output procurement.

Over the past year and Q1 24-25, Salam Kisan, under its parent company PRYM Group, has invested ₹9.1 crore in developing agricultural drones and precision farming software. These advancements enhance the company’s technological and operational capabilities, enabling farmers to use drones and advanced analytics to optimize crop yield and soil health. This investment significantly boosts farmers’ productivity and profitability. The company deployed over 50 drones and pilots in Maharashtra, saving at least 70 lakh liters of water through optimized drone-based spraying.

Dhanashree Mandhani, Founder & CEO of Salam Kisan, said, “Our exceptional growth and remarkable increase in revenue this fiscal year is a clear indication of our commitment to transforming the agricultural sector through innovation and technology. Our crop calendar, drone services, and precision farming tools have not only improved yields but have also redefined farming practices in India. Farmers using Salam Kisan have seen an incremental revenue of at least ₹16,000 and a 30% cost saving each season. As we expand into Uttar Pradesh and Madhya Pradesh, we intend to aid more farmers across India with our advanced agritech solutions.”

Salam Kisan projects an additional ₹16 crore in revenue from drone spraying services and input sales during the upcoming Kharif season, driven by farmers’ increasing adoption of its application. The company has been bootstrapped with positive EBITDA since its inception, and Salam Kisan is expecting to raise its first round of investment to expand its business with drones and increase market penetration.

Additionally, the company’s success in drones has given it the confidence to double down on the potential of drones in precision farming. Salam Kisan is now focused on powering the farmer’s journey on its platform through drones and AI. This expansion is expected to accelerate the company’s growth further and bring its advanced services to a larger agricultural community.

Since its inception, Salam Kisan has transformed the Indian agricultural landscape by engaging with more than 1 lakh farmers through 250+ centers across 7,000 villages. The platform covers 67+ crop varieties, impacting 60,000 acres of farmland with over 200 agricultural input products. This impressive impact underscores Salam Kisan’s commitment to a more integrated and prosperous future for farming communities.

New Delhi, India, July 30, 2024: Strides Pharma Science Ltd . announced its consolidated financial results for the quarter (Q1FY25) ended June 30, 2024.

Adjusted PAT = PAT from continuing operations without JV share and exceptional items

Arun Kumar, Founder & Executive Chairperson, and , 

Badree Komandur

MD & Group CEO, commented on the performance and said, “Our emphasis on profitability, efficiency and growth has led to a strong performance across markets, allowing us to deliver superior returns ahead of the projected timelines for our FY25 outlook.

The company achieved critical thresholds of 20% EBITDA margin, ₹683m of reported PAT and 2.3x Debt/EBITDA ratio. We are confident of sustaining the momentum with continuous improvement in the quality of business.

The company has increased its focus on digitization, automation, and ESG for better compliance and business outcomes.”