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Black Box net profit rises to Rs 41 crore in Q3

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NewsDrum Desk
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New Delhi, Feb 9 (PTI) IT company Black Box posted a multi-fold jump in consolidated net profit to Rs 40.87 crore in the December quarter on account of cost rationalisation and enhanced productivity.

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The company had posted a net profit of Rs 7.79 crore in the year-ago period, it said in a regulatory filing on Friday.

The consolidated revenue of Black Box during the third quarter of the current fiscal remained almost flat at Rs 1,655.47 crore compared to Rs 1,671.71 crore a year ago.

"We are delighted by our achievements in the third quarter and nine months of FY24. Our EBITDA margins and overall profitability both on a quarter-on-quarter and year-on-year basis increased substantially due to our emphasis on cost rationalisation and enhanced productivity.

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"Strong order book, coupled with deal wins in excess of USD 50 million during the quarter, makes us confident in our resilient business model," Black Box Whole Time Director Sanjeev Verma said.

The company said its strategy to focus on large revenue customers is yielding results while its pipeline continues to remain robust with some hold up in decision making, leading to delay in getting new orders.

"Our strong focus on profitability over the last few quarters has started yielding positive results. We are optimistic that this trend will continue," Black Box Executive Director and Global Chief Financial Officer Deepak Kumar Bansal said. PTI PRS TRB

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