Black Box posts profit of Rs 32 crore in July-September quarter

We have reported strong improvement in EBITDA margins and overall profitability owing to cost rationalisation programme and improved productivity yields, Black Box Whole-Time Director Sanjeev Verma said in a statement.The company saw an increase in operational profit of EBITDA margins by 320 basis points on a year-over-year basis.Our project order book in North America continues to be robust on the back of order wins in excess of USD 80 million during the quarter.

Essar Group IT company Black Box has posted a consolidated profit of about Rs 32 crore in the second quarter ended September 2023.

The company had reported a loss of Rs 22.6 crore in the same period a year ago.

The consolidated revenue from operations remained almost flat at Rs 1,574.35 crore during the reported quarter compared to Rs 1,562.24 crore recorded in the September 2022 quarter.

''We are extremely pleased with our performance for the second quarter and first half of FY'24. We have reported strong improvement in EBITDA margins and overall profitability owing to cost rationalisation programme and improved productivity yields,'' Black Box Whole-Time Director Sanjeev Verma said in a statement.

The company saw an increase in operational profit of EBITDA margins by 320 basis points on a year-over-year basis.

''Our project order book in North America continues to be robust on the back of order wins in excess of USD 80 million during the quarter. Our business model remains resilient and each of our business segments continue to gain traction, which gives us the confidence to deliver better performance over the coming quarters,'' Verma said.

Black Box executive director and global chief financial officer Deepak Kumar Bansal said that company revenues during the reported quarter remained flat on year-on-year as well as sequential quarter basis, whereas revenue in the first half of the current fiscal grew by about 7 per cent year on year.

''Order book continues to be strong, however, we have exited some of the low-revenue customers' accounts who do not have future growth potential and were 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,'' Bansal said.