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IRIS Business Services Ltd News

This Madhuri Kela-owned stock has zoomed over 100% in six weeks

IRIS Business Services hit the 5 per cent upper circuit and a new high at Rs 258.40 in trades today, ahead of the board meeting on Thursday to consider fund raising proposal.

This Madhuri Kela-owned stock has zoomed over 100% in six weeks
Updated On : 29 May 2024 | 12:08 PM IST

IRIS Business Services Q3 results: Profit increases 19% to Rs 1.76 crore

Global fintech firm IRIS Business Services has reported a profit of Rs 1.76 crore for December quarter 2023-24. In the year-ago period, the profit was Rs 1.48 crore. Revenue in April-December FY24 was Rs 72.35 crore as against Rs 53.47 crore in the year-ago period, the company said in a regulatory filing. During the 9-month period, profit after tax was up 50 per cent from Rs 2.7 crore to Rs 4.06 crore. "The growth in revenues has been driven by the collect segment, which increased sharply to Rs 32.16 crore for the 9 months in FY24 from Rs 17.24 crore in the corresponding period in FY23," it said. It further said growth in the create segment was subdued with revenues going up from Rs 33.19 crore to Rs 36.77 crore. To get customers using other products to switch to ours requires a well funded marketing push which has to wait till we get our funding in place, company CEO S Swaminathan said. While India accounts for 30 per cent of the company's revenues, Africa comes a close second

IRIS Business Services Q3 results: Profit increases 19% to Rs 1.76 crore
Updated On : 12 Feb 2024 | 9:28 PM IST