Mumbai, 7th February 2025 (TGN) : Orient Technologies Ltd. is a leading IT provider specializing in innovative cloud and data management solutions for enterprises sector in India, has announced its financial results for the third quarter & nine months ended December 31st, 2024.
Highlights of Financial Performance 9 Months ended December 31st, 2024
The Total Income for the nine months ended December 31st, 2024 stood at Rs. 583.81 Crore as against Rs. 423.89 crore for nine months ended December 31, 2023, showcasing a growth of 37.73%.
Revenues from operations for the nine months ended December 31st, 2024 stood at Rs. 578.85 crore as compared to Rs. 421.83 Crore for nine months ended December 31, 2023, showcasing a growth of 37.22%.
The Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the nine months ended December 31st, 2024 stood at Rs. 53.32 crore, as against Rs 41.05 Crore for nine months ended December 31, 2023, showcasing a growth of 29.90%. The Company’s EBITDA margin for the nine months ended December 31st, 2024 stood at 9.13%.
Profit Before Tax (PBT) for the nine months ended December 31st, 2024 stood at Rs. 48.99 Crore as compared to Rs 37.31 Crore for nine months ended December 31, 2023, showcasing a growth of 31.32%. The Company’s PBT margin for the nine months ended December 31st, 2024 stood at 8.39%.
Profit After Tax (PAT) for the nine months ended December 31st, 2024 stood at Rs. 37.00 Crore as against Rs. 27.25 Crore for nine months ended December 31, 2023, showcasing a growth of 35.80%. The Company’s PAT margin for the nine months ended December 31st, 2024 stood at 6.34%
Earnings per share (EPS) for the nine months ended December 31st, 2024 for the stood at Rs. 9.82 as against Rs. 7.81 for nine months ended December 31, 2023, showcasing a growth of 25.65%.
Segmental Revenue:
The contribution to revenue from operations for each vertical stands as follows:
BSFI: 19.41%
Communication: 6.04%
Govt & PSU: 8.81%
IteS: 10.98%
Manufacturing: 0.48%
Healthcare and Pharma: 1.24%
Others: 53.04%
Strategic Wins :
Orient Technologies has been awarded the contract for Managed Services Provider (MSP) for AWS workloads by Digital India Corporation (DIC), a Section 8 company under the Ministry of Electronics and Information Technology (MeitY), Government of India.
Under this engagement, Orient will manage, optimize, and secure critical AWS cloud workloads supporting key national digital initiatives. Our scope includes seamless migration, ongoing infrastructure management, cloud governance, security compliance, and performance optimization for the following DIC workloads:
DigiLocker , National Dairy Development Board (NDDB), UMANG and others.
Key responsibilities under this engagement : AWS account migration , 24×7 monitoring and security, Cost optimization and performance tuning, Compliance and governance, Support for future government projects
Winning this contract strengthens Orient Technologies ’s leadership as a trusted AWS MSP for public sector organizations, reinforcing our commitment to supporting India’s Digital India vision. We look forward to collaborating with DIC to enhance cloud efficiency, security, and innovation across critical government initiatives.
Orient Technologies Limited Wins HPE Storage Ranger Partner FY’24 Award
Orient Technologies Limited has been recognized as the HPE Storage Ranger Partner for FY’24, a prestigious accolade that highlights our expertise and commitment to delivering cutting-edge HPE storage solutions. This award reflects our strong partnership with Hewlett Packard Enterprise (HPE) and our ability to drive innovative, scalable, and efficient storage solutions for businesses.
Our success in data storage, backup, and disaster recovery has empowered organizations with high-performance, secure, and cost-optimized storage infrastructure. This recognition further reinforces our position as a trusted IT solutions provider, ensuring seamless digital transformation for enterprises across industries.
Commenting on the results Mr. Ajay Sawant, Chairman & Managing Director said :
As we enter the final quarter of the fiscal year, I am pleased to share that our momentum continues to build, fueled by significant large deals that are poised to drive growth and ensure a strong close to fiscal year 2024-25.
One of the most impactful developments, is our recent collaboration with the Ministry of Electronics and Information Technology (MeitY). This partnership marks a significant step in our digital transformation journey, as we successfully migrated critical government programs, including Mission Shakti, Mission Vatsalya, and the Poshan Tracker, to a secure and scalable cloud platform. This achievement not only strengthens our role in supporting mission-critical infrastructure for national initiatives but also further reinforces our position as a leader in the digital transformation space.
As we move forward, we remain steadfast in our commitment to creating sustained value for our stakeholders, ensuring that we continue to drive innovation and excellence across every facet of our business.
