ROX Hi-Tech Limited Announces Strong FY24 Financial Results

ROX Hi-Tech Limited Announces Strong FY24 Financial Results

Dil Bar Irshad | June 3, 2024 | 11:01 AM IST | Breaking News | Follow on Google News

ROX Hi-Tech Limited Announces Strong FY24 Financial Results

ROX Hi-Tech Limited Announces Strong FY24 Financial Results

Key Highlights:

1. ROX Hi-Tech sees 31.73% YoY growth in total income for FY24.
2. Secures major digital transformation deal with a public sector organization.
3. Chosen as the preferred vendor by EuroGroup for business process automation.

ROX Hi-Tech Limited (NSE: ROXHITECH), a leading customer-centric IT solutions provider, has reported its audited financial results for FY24, demonstrating significant growth across key financial metrics.

FY24 Financial Highlights (Standalone):

• Total Income: Rs 176.50 crore, marking a year-on-year (YoY) growth of 31.73%.
• EBITDA: Rs 32.23 crore, with a YoY growth of 36.10%, and an EBITDA margin of 18.26%, up by 59 basis points (Bps).
• Profit Before Tax: Rs 28.39 crore, reflecting a YoY growth of 38.64%.
• Net Profit: Rs 21.24 crore, showing a YoY increase of 37.96%, and a net profit margin of 12.04%, up by 54 Bps.

Commenting on the company’s performance, Jim Rakesh, Managing Director of ROX Hi-Tech Limited, stated, “Our noteworthy performance reflects our steadfast commitment to excellence. Our adept technical prowess in meeting increasing client demands is a cornerstone of our business success. With over two decades of experience, we’ve strategically positioned ourselves to address the ever-evolving needs of the IT industry.”

In addition to the robust financial performance, ROX Hi-Tech Limited has secured a significant digital transformation deal involving data and database migration for a prominent public sector organization. This entry into the public sector opens up various prospects for future growth and expansion, solidifying ROX Hi-Tech Limited’s reputation as a reliable partner for digital transformation projects.

Furthermore, ROX has been selected as the preferred vendor by EuroGroup for their business process automation. This success underscores ROX’s expertise in handling complex IT projects and reinforces their commitment to delivering impactful IT solutions for clients.

Jim Rakesh added, “Our success in securing these significant deals and our strong financial performance highlight our strategic positioning and technical capabilities. We are excited about the future prospects and remain committed to sustaining our growth and innovation in the IT industry.”

(Refrences from PNN’s Press Release)

Dil Bar Irshad

Dil Bar Irshad is a seasoned journalist, hails from Jammu Kashmir's Doda, covers political, social, business stories, index stories.