Black Box Q1 profit up 55% to Rs 37 cr

New Delhi: IT company Black Box on Wednesday reported 54.9 per cent rise in consolidated net profit at Rs 37.09 crore for June quarter FY25.

It had posted a net profit of Rs 23.94 crore for the year-ago period, according to a regulatory filing.

Revenue from operations came in at Rs 1,423.3 crore, down from Rs 1,571.4 crore in Q1 FY24.

Profit and revenue saw a decline of 9.31 per cent and 3.85 per cent, respectively, on a sequential basis.

"The growth in topline was affected due to delays in decision-making, leading to delayed project execution coupled with muted demand for our product business from some federal partners during the quarter.

"However, we continue to deliver on EBITDA and profitability over the last few quarters with strong focus on productivity and deal margins, as evidenced by a 28 per cent YoY growth in EBITDA and 55 per cent YoY increase in our profit after tax," said Deepak Kumar Bansal, executive director and global CFO, Black Box.

Black Box whole-time director Sanjeev Verma said the firm's "strategic" exit from low-value, non-accretive customers had a short-term impact on revenue.

"As we move into FY25, our focus will remain on capitalizing on our strong pipeline and robust order book. With each business segment gaining momentum, we are confident in our ability to deliver enhanced performance and meet our revenue and profitability guidance," Verma said.

Shares of Black Box were trading 4.24 per cent lower at Rs 506.95 apiece on the BSE on Wednesday.