Black Box Ltd., an IT solutions provider of the Essar Group, for the second quarter ended September 30, 2024 reported 60% growth in net profit at ₹51 crore as compared with ₹32 crore in the year ago period.
However, the company’s revenues during the quarter dropped 5% to ₹1,479 crore from ₹1,574 crore a year ago.
Sanjeev Verma, Whole Time Director, Black Box said, “Our strategic focus on reorganising the business into industry verticals and a horizontal business layer will help us to transition into the next phase of growth.”
“Additionally, our cost optimisation efforts will yield consistent growth in operating performance and enhanced productivity leading to better margins. We have secured funding of ₹386 crore, which will strengthen our balance sheet and help us make accelerated investments to propel growth across key focus areas,” he added.
Deepak Kumar Bansal, Executive Director and Global Chief Financial Officer, Black Box, said, “Our commitment towards better performance achieved through operating leveraging is starting to yield results.”
Published – November 11, 2024 10:01 pm IST
