Orient Technologies surged 11.17% to Rs 432.85 after the company's standalone net profit rose 62.63% to Rs 15.06 crore on 49.35% increase in net sales to Rs 223.14 crore in Q2 September 2024 as over Q2 September 2023.
Sequentially, revenue increased by 49.92% while PAT surged by 62.20% in Q2FY25 over Q1FY25.The contribution to revenue from operations for each vertical stands as follows: Mid Market (53.89%), BSFI (19.62%), IteS (9.17%), Govt & PSU (8.15%), Communication (6.36%), Healthcare and Pharma (2.01%), and Manufacturing (0.80%). Mid-Market includes infrastructure, real estate, logistics, education, e-commerce, conglomerates, energy and service industries etc.
Profit before tax stood at Rs 19.41 crore in the Q2FY25, up 57.9% year-on-year (YoY) and up 55.40% quater-on-quarter (QoQ). EBITDA was at Rs 20.72 crore during the quarter, up 47.68% YoY and 51.79% QoQ. The companys EBITDA margin stood at 9.21%.
Total expenses rose 49% to Rs 204.35 crore in Q2 FY25 over Q2 FY24. During the quarter, employee benefits expense was at Rs 11.33 crore (up 5% YoY).
Net cash outflow from operating activities declined to Rs 6.44 crore in Q2FY25 from a cash outflow of Rs 12.18 crore in Q2FY24.
Orient Technologies is an IT provider specializing in innovative cloud and data management solutions for enterprises sector in India.
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