ESDS Reports Q1 Financial Results
Enterprise cloud and artificial intelligence company ESDS reported a net profit of INR 29.3 crore for the first quarter, representing a 14% increase compared to the same period in the previous fiscal year, according to data cited by Inc42.
Operating revenue for the quarter grew 7.3% year-on-year to reach INR 133.7 crore. However, on a sequential basis, the company experienced a contraction, with net profit slipping 57% from INR 67.7 crore recorded in the preceding quarter, while operating revenue fell by 20.2% quarter-on-quarter.
Total expenses for the enterprise cloud and AI provider increased to INR 98.7 crore during the quarter, marking an 8.4% rise year-on-year and a 16.5% increase on a sequential basis, as detailed by Inc42. The figures outline the financial performance of the firm within the Indian technology sector as it balances revenue growth against rising operational expenditures.
Based on reporting by inc42.com.
