String Metaverse posts Rs 12 crore profit in H1

New Delhi, Nov 12 (PTI) Hyderabad-based String Metaverse Ltd on Tuesday posted a profit after tax (PAT) of Rs 12.13 crore in the April to September of FY25.

The company, which was listed recently and began trading on the BSE earlier this month, reported a revenue of Rs 137.82 crore during the first half of the ongoing fiscal year.

String Metaverse Ltd merged with Bio Green Papers Ltd under the Insolvency and Bankruptcy Code (IBC) CIRP framework. The merger was approved by the National Company Law Tribunal (NCLT).

These results reflect the company's successful pivot to cutting-edge domains such as Web3 gaming, artificial intelligence (AI), and blockchain technology, the company said in a statement.

Santosh Althuru String Metaverse CEO said, "We are building an agent economy that will grow alongside the human economy, enabling commerce and monetisation across multiple blockchains. We anticipate achieving a CAGR of 70-100 per cent over the next three years, driven by innovations in AI and blockchain commerce." PTI KKS TRB