 "Magellanic Cloud Q1FY26 results: PAT up 22.9%, revenue hits ₹163.96cr")
IT company Magellanic Cloud on Tuesday posted a 4.75 per cent increase in consolidated profit after tax to Rs 27.77 crore in the June quarter.
The company had posted profit after tax of Rs 22.59 crore.
The total income of Magellanic Cloud increased 23.16 per cent to Rs 164.34 crore during the first quarter of the current fiscal year from Rs 159.18 crore a year ago.
"Magellanic Cloud delivered a strong start to FY26, reporting revenue of Rs 163.96 crore, EBITDA growth of 19.14 per cent, and PAT up 22.93 per cent year-on-year. Our multi-vertical momentum, backed by product innovation and global partnerships, positions us well for an accelerated trajectory this fiscal year," Magellanic Cloud Global CEO and MD Joseph Sudheer Reddy said.
He said the company closed acquisition of Finoux during the quarter, which marks its official entry into Al-powered financial analytics and robo-advisory automation.
"We recorded a TCV (total contract value) close to Rs 100 crore across our core verticals -- IT services, e-surveillance, and drone technology," Reddy said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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