Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

GlobalSpace Technologies Ltd reports earnings for Q1FY21

Posted On: 2020-09-13 22:33:08


GlobalSpace Technologies Limited, one of the leading HealthTech and EduTech digital platform provider, announced robust results for the first quarter ended on June 30, 2020.

Quarterly Comparisons:

On a consolidated basis, total revenue in the first quarter stood at INR 59.63 Mn, 19% higher than INR 50.31 Mn in the same quarter last year. EBIDTA amounted to INR 34.82 Mn in Q1FY2021 as against INR 19.28 Mn in Q1FY2020 with margins of 58%. Profit after tax (PAT) registered an impressive growth of 77% to INR 20.65 Mn in Q1FY21 from INR 11.66 Mn in Q1FY20 with the margin of 35%.

Commenting on the performance, Mr. Krishna Singh, Founder & CMD, 'We are pleased with our performance during this challenging quarter as we have managed to achieve steady growth despite lockdown and office shut down. The company has registered substantial improvement in profitability led by our product platforms and cost control efforts. Our focussed efforts on two of the key verticals - Healthcare & Education has contributed to the improved performance of the company. We have achieved standalone net profit of INR 20.65 Mn for this period and have posted 19% y-o-y growth in top-line. Moreover, our EBITDA margin has also improved and thus to better profitability. We have seen great traction in both the verticals healthtech as well as Edutech due to this unprecedented time of Covid-19. For our DocExa platform, we have witnessed 28,700 doctor's registration till date and we can foresee a higher demand going forward. We are very proud to say that DocExa is fully compliant with the guidelines of Government of India.'

He further added, 'Going forward, our strategic association with MediApp, a firm step towards truly integrated comprehensive digital healthcare ecosystem, is going to enhance the overall viability of DocExa platform. It will create one of India's largest Digital healthcare network by instantly connecting the Doctor network of DocExa with MediApp's network of over 43000 Pharmacies. With this initiative, DocExa's end customers will have the opportunity to buy generic medicines from Neighbourhood e-Pharmacy. The company's edge in both the verticals is likely to be the major growth driver for the company in coming years. During the quarter, Makebot contributed to the revenues from international markets as well, which we expect to be one of the major contributors to our future growth.'

Major Development done by the company during this quarter:

The company has made strategic tie-up with two marquee logo - Macleods Pharma and Cadila Pharma to its client list. By this DocExa is emerging to be one of the leading Virtual Consultation App, which is first of its kind Artificial Intelligence (AI) enabled. In addition to these, Makebot has introduced National STEAM Olympiad (NSTO) and got students participating from leading school chains like - Euro, Poddar, Vibgyor, DPS, Dhirubhai International/ School, etc. Makebot offers unified solution on experiential learning for students across all grades using STEAM pedagogy of teaching Science, Technology, Engineering, Arts and Mathematics.

Shares of Globalspace Technologies Ltd was last trading in BSE at Rs.85.15 as compared to the previous close of Rs. 89.6. The total number of shares traded during the day was 33984 in over 232 trades.

The stock hit an intraday high of Rs. 93 and intraday low of 85.15. The net turnover during the day was Rs. 2957156.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Welspun Corp Ltd receives orders worth Rs. 1400 crore

SKINN by Titan Launches 'Escapade'

Usher in the festivities with Westside's 'What's Your Festive' Campaign

Tata Chemicals bags 3rd spot in Responsible Business Ranking 2020

Canara HSBC OBC Life Insurance rolls out additional health cover for employees amid COVID-19

TCS Global Survey Finds 90% of Large Enterprises are Maintaining or Increasing Digital Transformation Budgets Amid COVID-19

Makers Laboratories Ltd to acquire Resonance Specialties Ltd

Kaveri Seeds features in Forbes, Asia's Best under A Billion 2020 list, 6th time in the last 10 years

Vedanta Jharsuguda rolls out financial literacy training for its 'Subhalaxmi Co-operative' members

Dabur launches Ghar Ghar Immunity initiative

Zen Technologies Limited completes acquisition of 100% shareholding in Zen Medical Technologies Private Limited

KNR construction Ltd successfully completed sale of KNR Walayar Tollways Pvt Ltd to Cube Highways

Infomerics Valuation and Rating Pvt Ltd reaffirms rating of Dhunseri Ventures Limited

CRISIL reaffirms ratings of Diana Tea Company Limited

BLS wins contract from Republic of Estonia

IndiGrid approves Induction of KKR as a Sponsor

Moody's downgrades IIFL Finance to B2 from B1, outlook stable

Emkay Global Financial Services Ltd board to consider 2nd quarter results on Oct 30, 2020

LTI Recognized as a Great Place to Work™ in the USA

SBI Card inks partnership with American Express

Heritage Foods Limited board to consider Q2, H1 results on Oct 28, 2020

Myanma Foreign Trade Bank chooses Intellect for a scalable, future-proof Digital Transformation

TATA Elxsi Ltd board to consider Q2FY21 results on Oct 14, 2020

Steel Strips Wheels Ltd secures export orders of nearly 9000 wheels

Pritish Nandy Communications wins Best Script at Screenwriters' Award 2020

CRISIL reaffirms ratings of Mahindra and Mahindra Limited

Zydus Wellness Limited board fixes QIP price as Rs. 1690

IDFC First Bank's V Vaidyanathan gifts 1 lakh shares to his former school teacher

Vedanta Ltd board to announce Q1 results on Oct 3, 2020

SBI announces celebratory delights for retail customers

IRCON supported the promotion of culture and heritage by carrying out beautification work on the walls of Bengaluru Railway Station

Chembond Water receives 2020 Best Practices Award from Frost & Sullivan

Symphony introduces world's 1st 'Universal packaged air coolers' for industrial and commercial application

Central Bank of India raises Rs. 254.99 crore through QIP

Refex Industries Ltd to invest in units of RKG Fund - I

Endurance Technologies Ltd board to approve Q2, H1 FY2021 results on Nov 10, 2020

Western Union International Money Transfer Services now available at Alankit Forex India Ltd

Cosmo Films Launches BOPP-Fragranced Packaging Film

India Grid Trust completes acquisition of Jhajjar KT Transco Private Limited

Dhunseri Tea & Industries Ltd enters into MoU for sale of Khetojan Tea Estate

Anuh Pharma Ltd receives approval from WHO for Pyrimcthamine API

Dr Lalchandani Labs Ltd announces increase in capacity for Covid-19 RT-PCR testing

SBI announcement of processing fees waiver on Home Loan

EdgeVerve and Minit Partner to Deliver Actionable Process Intelligence

TCS Wins Four Stevie® Awards at the 2020 International Business Awards

SJVN Limited gets investment approval of 210 MW Luhri HEP and 66 MW Dhaulasidh HEP in Himachal Pradesh

TV Today Network Ltd board to consider Q2, H1 FY2020-21 results on Nov 6, 2020

Pre book with Tanishq and secure your gold rate today

NELCAST Ltd completes Phase II of iron casting project at Pedapariya in Andhra Pradesh

Infosys and Roland-Garros Empower Players, Fans and Media with New Digital Innovations on Court and at Home







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019