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TAC Infosec Reports 23.63% Increase in Net Profit in FY.2023-24

Posted On : 2024-05-28 11:12:50( TIMEZONE : IST )

TAC Infosec Reports 23.63% Increase in Net Profit in FY.2023-24

Vijay Kedia backed TAC Infosec Limited (INE0SOY01013), a leading global provider of cybersecurity solutions, recently announced its Audited Standalone Financial Results for the financial year ending March 31, 2024 (FY24) including half-yearly results (H2FY24).

TAC Infosec's Operational Income also increased by 16.09% to Rs 11.61 crore in FY24, up from Rs 10.00 crore in FY23. The company registered an EBIDTA of Rs. 6.53 crore in FY24 - up 19.6% as compared to Rs. 5.46 crore in FY23. TAC's net profit rose to Rs 6.33 crore in FY24, reflecting a robust increase of 23.63% compared to Rs 5.12 crore in FY23.

For the H2FY24, the company's operational income increased by 31.2% to Rs. 6.60 crore, while Net profit stood at Rs. 4.40 crore - up 128.2% over H1FY24. The EBIDTA for H2FY24 improved by 122.1% to Rs. 466.22 crore over H1FY24.

The growth was primarily on account of new clients and better efficiencies in operations.

Commenting on the financial performance, Trishneet Arora, Founder and CEO, TAC Infosec Limited, said, "We are delighted with our robust financial performance for the year, which reflects our strong market position and the growing demand for our cybersecurity solutions. The significant increase in net profit and operational income underscores our commitment to delivering exceptional value to our stakeholders."

TAC Infosec debuted on NSE Emerge on April 5, 2024, with a 174% premium over the offer price. Backed by stock market expert Vijay Kedia, the company raised 29.99 crore through its IPO and received bids exceeding $1 billion, resulting in an oversubscription of 422 times.

Source : Equity Bulls


TACInfosec FY2024 ResultUpdate