One Point One Solutions has announced that its net profit for the quarter ended March 31, 2023 doubled to ₹3 crore against ₹1.5 crore logged in the same period last year.
Revenue of the BPM (business process management) service provider grew three per cent to ₹36 crore (₹35 crore), while the EBITDA jumped 7 per cent to ₹9 crore (₹8 crore).
FY23 performance
For the overall FY23, the company’s net profit increased more than three times to ₹9 crore (₹2 crore) on 7 per cent rise in revenue at ₹140 crore (₹132 crore). EBITDA was up 17 per cent at ₹33 crore (₹28 crore).
The company has raised ₹12 crore from investors and promoters of the company through preferential issue at ₹16.47 per share for expanding its international business
It has incorporated a wholly owned subsidiary One Point One USA Inc to drive expansion in the US markets.
The company has expanded its BFSI business by adding Kotak Mahindra Bank to its clients list. The collection process for some of the major products of Kotak Mahnidra Bank would be managed by the company in English, Kannada and Hindi.
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Akshay Chhabra, Managing Director of One Point One Solutions, said the company’s endeavour to expand to international markets is paying off well.
This (expansion in global markets) will boost revenue and profitability as international business has better margins than that of domestic business, he added.
One Point One Solutions has 40 clientele, including SBI Cards, Godrej Appliance, Kotak Mahindra, ICICI Bank, Xiaomi, Razorpay, CRED, Go Air and Mahanagar Gas.