The shares of telecommunication equipment manufacturers gained up to 3.4 percent after the company’s net profit and revenue increased by 412 percent YoY and 5 percent QoQ, respectively in the third quarter.
With a market capitalization of Rs 4,772.69 crore, the shares of Black Box Ltd were trading at Rs 284.25 per share, decreasing around 1.90 percent as compared to the previous closing of Rs 289.75 apiece.
Looking into the company’s Performance, Black Box Ltd’s revenue increased by 5 percent on a quarter-on-quarter basis from Rs.1,574 crores in Q2FY24 to Rs. 1,655 crores in Q3FY24. Further, revenue decreased by 1 percent year on year from Rs. 1,672 crore in Q3FY23 to Rs. 1,655 crore in Q3FY24.
Black Box Ltd’s net profit increased by 28 percent on a quarter-on-quarter basis from Rs. 32 crore in Q2FY24 to Rs. 41 crore in Q3FY24. Further, net profit increased by 412 percent yearly from Rs 8 crore in Q3FY23 to Rs. 41 crore in Q3FY24.
During the quarter, the company secured deals worth USD 50 million or more from a variety of clients, including Data Center and In-Building 5G/OnGo solutions for an American social media and social networking giant worth USD 37.4 million, Data Center solutions for a short-form video hosting service provider worth USD 6.6 million, and many more.
The Company’s gross turnover for the fiscal year ended March 31, 2023, was Rs 6,288 crores, up from Rs 5,370 crores for the same time in 2022. This is a 17.1% increase over the previous year, owing principally to a solid order book, as seen by new client bookings this year, and outstanding execution skills.
The worldwide Unified Communication as a Service (UCaaS) market was estimated at US$ 28.43 billion in 2022 and is expected to expand at a CAGR of 15.1% between 2023 and 2030, reaching US$ 85.77 billion.
Black Box Limited offers IT solutions. The company specializes in providing cutting-edge technological solutions and consulting services to organizations throughout the world. Its IT infrastructure solutions, services, and products provide safe connectivity
Written by:- Abhishek Singh
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