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IT Consulting & Software company Black Box announced Q3FY24 & 9MFY24 results:

Financial Performance:
- Revenue: For Q3FY24, Black Box reported a QoQ growth of 5% to Rs 1,655 crore and a YoY growth of 4% to Rs 4,801 crore in 9MFY24.
- EBITDA: EBITDA grew significantly by 62% YoY to Rs 116 crores in Q3FY24, and for 9MFY24, EBITDA increased to Rs 306 crores at a margin of 6.4%, demonstrating a YoY increase of 260 basis points.
- Profit After Tax (PAT): PAT for Q3FY24 surged by 5.2x YoY to Rs 41 crores and increased by 28% on a quarter-on-quarter basis. For 9MFY24, PAT increased to Rs 97 crores, a substantial rise from Rs 1 crore in 9MFY23.

Operational Highlights:
- Margin Enhancement: EBITDA margins rose by 270 basis points YoY to 7.0% for Q3FY24, indicating effective cost rationalization and improved productivity measures.
- Deal Wins: Black Box Limited secured deal wins of over $50 million during the quarter, including notable clients and projects: a social networking giant, a short-form video hosting service provider, correctional departments, engineering services providers, energy companies, defense organizations, and hospitals.

Commenting on the results and performance Sanjeev Verma, Whole Time Director, Black Box said, “We are delighted by our achievements in Q3 and 9MFY24. Our EBITDA margins and overall profitability both on a QoQ and YoY basis have increased substantially due to our emphasis on cost rationalization and enhanced productivity. Strong order book coupled with deal wins in excess of $50 million during the quarter, makes us confident in our resilient business model. As each of our business segments gathers momentum, it reinforces our confidence in delivering improved performance in the upcoming quarters.”

Deepak Kumar Bansal, Executive Director and Global Chief Financial Officer of Black Box, commented, “Revenue for Q3FY24 witnessed a growth of 5% QoQ and was muted on a YoY basis. For 9MFY24 revenue grew by 4% YoY. Our strong focus on profitability over the last few quarters has started yielding positive results as evidenced by our profit after tax surging 5.2 times YoY in Q3FY24. Further, we are optimistic, that this trend to continue both in terms of margin enhancement and overall profitability, boosting our confidence in achieving strong performance in fiscal year 2024 and onwards.”

Result PDF