 "Q2")
Black Box Ltd, a BSE-listed technology firm owned by the Ruia family, reported a 100 per cent growth in its earnings before interest, depreciation, and amortisation (Ebitda) for the September quarter at Rs 101 crore, with a profit after tax of Rs 32 crore as against a loss of Rs 23 crore in the same period of the last financial year.
Sustained momentum in new project bookings to the tune of $80 million during the quarter leads to a robust order backlog, said a company statement.
'We have reported a strong improvement in our Ebitda margins and overall profitability owing to a cost rationalisation programme and improved productivity yields. Our project order book in North America continues to be robust on the back of order wins in excess of $80 million during the quarter. Our business model remains resilient, and each of our business segments continues to gain traction, which gives us the confidence to deliver better performance over the coming quarters,' Sanjeev Verma, Whole Time Director at Black Box, said.
Deepak Kumar Bansal, Executive Director, and Global Chief Financial Officer of the firm, said the revenues for Q2FY24 remained flat on a year-on-year and quarter-on-quarter basis, whereas for H1FY24, revenue grew by 7 per cent year-on-year.
'Order book continues to be strong; however, we have exited some of the low-revenue customer accounts who do not have future growth potential and were a drag on margins. Our strong focus on profitability over the last few quarters has started yielding positive results, and we are confident that this improvement trajectory should continue in the future as well,' he said.
