Titan Intech, a leading IT, data centre establishment and digital business transformation company, has reported multi-fold increase in March quarter net profit to Rs 2 crore (Rs 53 lakh) on back of better execution.
Revenue was up at Rs 13 crore (Rs 7 crore) in the quarter under review. EBITDA more than doubled to Rs 3 crore (Rs 1.39 crore).
In FY’24, net profit was up two times to Rs 6 crore (Rs 2 crore) while revenue increased to Rs 44 crore (Rs 15 crore). EBITDA was up over three times to Rs 10 crore (Rs 3 crore).
Sunil Ghanate, wholetime director, Titan Intech said the company’s performance was driven by excellence and innovation.
Meanwhile, he said the board has recommended issue of bonus shares in the ratio of three equity share for every five existing equity shares held (3:5).
Shares of the company were up five per cent at Rs 72 on Wednesday.