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Business EconomyPosted at: Nov 14 2024 7:57PM


Magellanic cloud profit up 10.66 pc at Rs 24.22 crore in Q2FY25

Hyderabad, Nov 14 (UNI)Magellanic Cloud, a leading force in the global technology landscape, on Thursday reported a 10.66 percent increase in net profit to Rs 24.22 crore for the quarter ending September 30, 2024 as against Rs 22.07 crore in the corresponding period in the previous year.
Revenue from operations stood at Rs 157.30 crore in Q2 FY25, as against Rs 154.07 crore in Q2 FY24, the company said in a release.
EBITDA for the quarter is Rs 51.73 crore as against Rs 40.53 crore in Q2 FY24 a year-on-year growth of 27.64 percent
During the quarter, Scandron, a subsidiary of Magellanic Cloud, ranked first in "Him-Drone-A-Thon" organized by the Indian Army.
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, Joseph Sudheer Thumma, said “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.
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Tags: #Magellanic cloud profit up 10.66 pc at Rs 24.22 crore in Q2FY25
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