Magellanic Cloud Ltd , a software development and digital transformation solutions company, has posted a revenue of ₹19 crore in the first quarter that ended June 30, 2023, as against ₹10 crore in the comparable quarter last year, showing a growth of 87 per cent.
The company registered a revenue of ₹138 crore in the quarter as against₹87 crore in the comparable quarter last year, showing a growth of 57 per cent.
“The PAT margins increased to 13.61 per cent in the first quarter this year from 11.46 per cent in the comparable quarter last year,” a company statement said on Monday.
Expansion plans
“We are in discussion with five prospective acquisition targets in the IT and e-surveillance field to further its expansion plans. The target includes three firms from India and two in other countries,” it said.
“We are targeting a 50 per cent growth in the revenue in the current fiscal year,” it said.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.