One Point One Solutions, a leading provider of next-generation BPM services, has disclosed its financial performance for the quarter and nine months ending December 31, 2023, showcasing significant growth and strategic developments.
Key Financial Highlights:
- The total income surged by 18.5%, reaching Rs 42.11 Crore in Q3FY24 compared to Rs 35.54 Crore in the same quarter last fiscal year.
- EBITDA witnessed a remarkable 84.5% climb, reaching Rs 15.08 Crore in Q3FY24 from Rs 8.18 Crore in Q3FY23, with an improved EBITDA margin of 35.8%.
- Net profit experienced an impressive growth of 2.8 times, soaring to Rs 5.97 Crore in Q3FY24 from Rs 2.14 Crore in Q3FY23.
- Earnings per share (EPS) saw a substantial increase of 162.8%, reaching Rs 0.30 per share in Q3FY24 from Rs 0.11 per share in Q3FY23.
Client Acquisitions and Future Outlook: One Point One Solutions welcomed Tata ONDC and VLCC as new clients during the quarter, with expectations of higher volumes in the future. The company is currently finalizing additional contracts, anticipating their closure in Q4FY24.
Statement from Akshay Chhabra, Managing Director: Akshay Chhabra expressed delight in the company’s overall profitability growth, attributing it to strategic efforts in re-orienting the business portfolio towards the BFSI sector. He emphasized the company’s evolution into an IT services provider, integrating BPM services for optimal offerings and efficient service delivery at an optimal cost.
Future Growth Plans: Chhabra announced the successful raising of a substantial amount of funds for overseas expansion and inorganic growth. The company envisions emerging as a full-fledged IT services provider, integrating BPM solutions after completing successful acquisitions through an inorganic route in the next three years.