One Point One Solutions Q4FY23 net profit doubles on better margins
One Point One Solutions has declared its financial results for the Quarter and Year ended March 31, 2023
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Mumbai 30th May, 2023: One Point One Solutions has declared its financial results for the Quarter and Year ended March 31, 2023. During the quarter, revenue from operations was at ₹ 35.68 crore, as compared to ₹ 34.65 crore in Q4 FY22, registered a growth of 2.97%. Net Profit was at ₹ 2.95 crore, as compared to profit of ₹1.44 crore in Q4FY22, grown by 104.86%. For the FY23 the company has declared revenues from operations was at ₹ 140.25 crore, as compared to ₹ 131.69 crore in FY22, increased by 6.50%. Net profit was at ₹ 8.79 crore, as compared to Rs. 3.41 crore in FY22, registered a growth of 1.58 times.
In its BFSI business, the company has recently added marquee client Kotak Mahindra Bank. The collection process for some of the major products of Kotak Mahnidra Bank, would be managed by the company in multilingual like English, Kannada and Hindi.
The company has successfully raised Rs. 12.15 crore from investors and promoters of the company through preferential issue of shares at Rs. 16.47 per share for expanding its international business. It has incorporated its wholly owned subsidiary One Point One USA Inc. to spread head the company’s expansion in USA markets.
Commenting on the Results, Mr. Akshay Chhabra, Managing Director said, “We are delighted to declare a good set of numbers. We have delivered good growth rates in the overall profits of the company, which has resulted in increase in both operational level and PAT level margins.
Our endeavours in expanding to international markets is paying off well and we will be making good progress during the current year. This is going to further enhance the growth rates on both revenues and profitability. Our business in international markets has better margins than our domestic business"
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