The leading force in the global technology landscape has just released its impressive financial results for the quarter ending September 30, 2024 with 27.64% EBITDA & 10.66% PAT Increase Y-O-Y
FinTech BizNews Service
Mumbai, 14 November, 2024: Magellanic Cloud (BSE: MCLOUD), a leading force in the global technology landscape has just released its impressive financial results for the quarter ending September 30, 2024. With a strong commitment to advancing innovation in IT, IT services, e-surveillance, and drone technology, Magellanic Cloud is subsequently creating substantial value for its clients locally & globally, showcasing consequent growth Y-o-Y & Q-o-Q.
In his remarks, Magellanic Cloud’s Global CEO & MD, Mr. Joseph Sudheer Thumma, asserted: “Reflecting on our Q2 results, it is evident that the strength of our diverse technology portfolio and our commitment to transformational growth are unparalleled. The Q2 results demonstrate impressive growth and an extraordinary surge in key areas, highlighting our ability to strategically own, acquire, and innovate technologies that shape the future of the tech industry. In the past quarter, we established significant partnerships with leading technology powerhouses to fulfill their staffing and manpower needs. Moreover, we celebrated our success at the prestigious Him-Drone-A-Thon competition, further solidifying our leadership in the drone and IT sectors. As we gaze into the future, we are not just participants in the fields of Generative AI, surveillance, and drone technologies; we are positioned to lead with our unwavering strategic vision, delivering exceptional value to our stakeholders and strengthening our position at the forefront of the technology landscape.”
Key financial highlights
Revenue from operations stood at Rs157.30 crore in Q2 FY25, as against Rs154.07 crore in Q2 FY24
· EBITDA for the quarter is Rs51.73 crore as against Rs 40.53 crore in Q2 FY24 a year-on-year growth of 27.64%
· EBITDA Margin for Q2 FY25 stood at 32.89%
· Q2FY25 PAT stands at Rs24.42 crore against a PAT of Rs22.07 crore in Q2 FY24, year on year growth of 10.66%
*EBITDA excluding other income; #EBITDA M & PAT M as a % of Revenue from Operations
Drones (Subsidiary – Scandron Private Limited)
· Scandron, a subsidiary of Magellanic Cloud, achieved a major milestone by receiving its second DGCA approval, this time for its small category Agri Drone. Notably, Scandron is also the first company in India to secure DGCA certification for its logistics drone. These certifications position Scandron to participate in key government-led initiatives such as Drone Didi, where type certification is a prerequisite further strengthening our contribution to the growth of the drone ecosystem in India.
· Scandron, a subsidiary of Magellanic Cloud successfully conducted trials with defense forces at medium and high altitudes, demonstrating Scandron's advanced logistics capabilities in challenging environments. These trials solidified the company’s role as a reliable partner for defense operations, highlighting its potential to revolutionize military logistics and tactical support.
Staffing (JNIT Technologies)
· Secured a high-value 450 million contract for expat hiring services with a leading global giant in the semi-conductor industry, enabling the delivery of specialised talent across key international markets. This strategic achievement reinforces JNIT's leadership in providing critical workforce solutions for large-scale, high-impact projects globally.
· JNIT has formed a strategic partnership with India’s leading analytics firm to enhance its contract staffing solutions, providing clients with access to specialised talent in domains like data science and machine learning. This collaboration further strengthens JNIT's positioning to empower businesses through agile, high-caliber staffing options, driving innovation and operational excellence.
