IRIS Business Services Ltd Reportedly Enters Rs 100 Cr Club with 37% Revenue Growth in FY24
IRIS Business Services Ltd, a leading Regtech company, announced impressive financial results for the year ended March 31, 2024, with revenue growth of 37%. The company reported a total revenue of Rs 102.96 crore and an EBITDA of Rs 15.88 crore, marking significant improvements. The company operates through three segments: COLLECT, which accounted for 45% of revenues; CREATE, contributing 51%; and CONSUME, whose importance stems from its support for the other two. IRIS Business Services also reported a significant surge in profits, with net profit hitting a record high of Rs 8.79 crore. The majority of revenues came from global markets, with Africa emerging as the biggest growth driver. Debt equity ratio and interest coverage ratio also showed improvement.
Key Highlights
- IRIS Business Services Ltd reported a revenue growth of 37% for the year ended March 31, 2024
- Total revenues reached Rs 102.96 crore and EBITDA stood at Rs 15.88 crore
- Net profit more than doubled to Rs 8.79 crore
- Company operations span across three business segments: COLLECT, CREATE, and CONSUME
- Majority of revenues came from global markets, with Africa being the biggest growth driver