eMudhra surged 12.17% to Rs 284.70 after the company's consolidated net profit jumped 45.9% to Rs 13.89 crore on 21.7% rise in net sales to Rs 52.22 crore in Q1 FY23 over Q1 FY22.
Profit before tax soared 41.5% year on year to Rs 16.27 crore in the quarter ended 30 June 2022.Total expense rose 11.1% year on year to Rs 31.64 crore in Q1 FY23 due to 47% rise in operating expenses to Rs 5.3 crore during the period under review.
EBITDA grew 36.7% to Rs 21.17 crore in Q1 FY23 from Rs 15.49 crore in Q1 FY22. EBITDA margin improved to 40.1% as on 30 June 2022 as against 35.2% posted as of 30 June 2021.
The company said that it has repaid borrowings to become debt free in Q1 FY23.
Commenting on the first quarter results, V.Srinivasan, executive chairman of eMudhra said, "We have delivered strong revenue growth of 21.7% YoY and 15% QoQ with a strong margin profile with EBITDA margins at 40.1% and PAT margins at 26%. The QoQ PAT growth was 27% and YoY PAT growth was 44.4%. This was aided by growth in international markets. This is also a reflection of enterprises globally adopting cybersecurity and paperless transformation solutions as part of enterprise digital initiatives.
While there are headwinds with the macro environment, the space we operate in is niche and we see sustained demand for our solutions in the context of security requirements for Trust Services, IoT, Electric Vehicles and initiatives such as ESG which lays emphasis on paper usage and carbon footprint reduction. Further, improved blockchain adoption are resulting in need for solutions driving integration of identity backed digital signatures into such blockchain systems, yielding newer market opportunities for our company."
eMudhra is a digital trust, digital security and paperless transformation solution provider. The company is licensed by the Controller of Certifying Authorities (CCA), Ministry of Information Technology, and operates under the guidelines set by the Information technology Act.
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