Active Stocks
Sat May 18 2024 12:49:03
  1. Tata Motors share price
  2. 952.95 0.76%
  1. Power Grid Corporation Of India share price
  2. 316.85 1.12%
  1. Tata Steel share price
  2. 167.90 0.39%
  1. ITC share price
  2. 436.50 -0.02%
  1. State Bank Of India share price
  2. 821.30 0.42%
Business News/ Brand Stories / One Point One Solutions Q4FY23 net profit doubles on better margins
BackBack
BRAND POST

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

Akshay Chhabra, Managing Director, One Point One SolutionsPremium
Akshay Chhabra, Managing Director, One Point One Solutions

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"

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. 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed - it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 31 May 2023, 01:33 PM IST
Next Story footLogo
Recommended For You