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Business News/ Brand Stories / Exhicon Events FY23: 121 per cent jump in net profit
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Exhicon Events FY23: 121 per cent jump in net profit

The company has, last week announced 51% acquisition of Maple Heights Business Centre LLC, a fifteen thousand sq. ft. business centre near World Trade Centre, Dubai, providing end to end services to exhibition organisers, industry associations and private sector clients

L-R (Nitin Minocha- CEO, Padma Mishra - Group Director & M Q Syed, CMDPremium
L-R (Nitin Minocha- CEO, Padma Mishra - Group Director & M Q Syed, CMD

Exhicon Events Media Solutions Ltd, 360 degree solutions exhibitions company has released its audited financial results for the H2 and twelve months ending March 31, 2023. 

The company, which provides end to end exhibition services in India, has a subsidiary in Hong Kong, and group [promoted companies in Thailand and UAE] reported impressive performance highlights for the fiscal year 2023 in its India operations.

The company reported sales of Rs 59. 87 Cr for FY23, with a growth of 28.7 percent versus last fiscal. The company reported an operating profit of 12.42 Cr (up from 5.82 Cr in FY and Profit after Tax ( PAT) of  9.16 Cr, up from 4.31 Cr in FY 22. 

The audited results of BSE listed company were announced on the 29th May 2023 in Mumbai.

The company has been witnessing increasing demand of 360 degree exhibition solutions from both government and private sector.

Key highlights: 

Consolidated revenue 59.87 Cr, up from 46.51 Cr in FY 22

Operating profit 12.42 Cr, up from  5.82. Cr in FY 22 

PAT margin 9.16 Cr, up from 4.31 Cr in FY 22

M.Q. Syed, CMD of EXHICON Group, commenting on the result said “With our focus on providing 360 degrees exhibition services to Government and Private Sector clients, Exhicon Events Media Solutions is well-positioned to leverage the opportunities in the Exhibition Sector.  Highlighting the company’s outstanding performance, Syed further said, “With 28.7 percent growth in top-line, increase in PAT margin by over 121 per cent and a strong order book and acquisitions on the card, we are confident to meet the expectations of our stakeholders. The company boasted a robust balance sheet, a disciplined working capital cycle, the execution of exhibition projects with higher returns in India and UAE.

The company has, last week announced 51% acquisition of Maple Heights Business Centre LLC, a fifteen thousand sq. ft. business centre near World Trade Centre, Dubai, providing end to end services to exhibition organisers, industry associations and private sector clients.

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same. 

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Updated: 30 May 2023, 06:45 PM IST
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