PNN

Mumbai (Maharashtra) [India], November 16: NewJaisa Technologies Limited (NSE - NEWJAISA), India's leading IT electronics refurbishing company, announced its unaudited Financial Results for H1 FY24.

Key Financials at a Glance:

H1 FY24:

* Total Income of Rs 26.17 Cr, up by 85.87 %

* EBITDA of Rs 4.06 Cr, up by 49.90 %

* Net Profit of Rs 2.89 Cr, up by 39.07 %

* EBITDA Margin stood at 15.51%

* Net Profit Margin stood at 11.10%

* EPS stood at Rs 2.45

Commenting on the performance, Vishesh Handa, Chairman and Managing Director of NewJaisa Technologies Limited said, "I'm happy to announce an impressive 85% revenue growth in H1 FY24. Our customer base, spanning households, SMEs, and students, continues to drive significant demand. Emphasizing strategic growth, we're successfully diversifying revenue channels through direct sales.

Our strategy emphasis on sustainable growth is reflected in 85-90% year on year increase in our topline.

We continue to broad base our revenue channels through direct sales to diversified consumer segments. Our margin stands at 11.10% a deliberate alignment with our sustainable growth plan as we aimed to invest funds in human capital which reduces our margins by 3.72% when compared to H1 FY 23. We ramped up our employee base to double to fuel our sustainable growth projections.

H2 of financial year is always important and significant for us, we're proactively gearing up for the anticipated surge in demand during the festive season. To gain the momentum we have made our new facility of around 30K Sq ft. operational in October 2023.

Our consistent investments position us well to handle and capitalize on this seasonal uptick."

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