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.