IT Consulting & Software company Protean eGov Technologies announced Q3FY25 results Consolidated revenue from operations for Q3FY25 stood at Rs 202 crore. Tax services and pension services continued to grow at 3% and 12% respectively on a YoY basis. Adj. Operating Profit for the quarter stood at Rs 21 crore with operating margin of 10.3%. PAT grew by 51% YoY, increasing from Rs 15 crore in Q3FY24 to Rs 23 crore in Q3FY25. However, after adjusting for ECL, normalized PAT stood at Rs 23 crore for Q3FY25 and 22 for Q3FY24. The normalized PAT margin stood at 10.4% for Q3FY25, compared to 9.5% in Q3FY24. The Balance sheet continues to remain strong with more than Rs 750 crore of cash equivalents & marketable securities and zero debt as on 31st December’24. Suresh Sethi, Managing Director and Chief Executive Officer, said: Protean continues to retain its position as a leader in the Digital Public Infrastructure space, delivering yet another resilient quarter. Our tax and pension services have demonstrated steady growth, with pension services recording a robust 12% YoY increase. The encouraging response to initiatives like NPS Vatsalya highlights our ongoing commitment to enhancing financial inclusion. This quarter, we achieved key milestones, including securing the prestigious CKYCRR 2.0 mandate and powering India’s first ONDC-enabled e-commerce service integrated on Prasar Bharti’s OTT platform, WAVES. These achievements underscore our expertise in leveraging emerging technologies to execute impactful, large-scale projects. Looking ahead, Protean remains well-positioned to drive sustainable growth, strong partnerships, and a focus on emerging opportunities in Open Digital Ecosystems. We remain committed to delivering long-term value to our stakeholders while supporting India's journey towards a digitally inclusive future. Result PDF
IT Consulting & Software company Protean eGov Technologies announced Q2FY25 results Financial Highlights: Consolidated revenue from operations for Q2FY25 stood at Rs 220 crore, with a growth of 12% QoQ. Tax services and pension services continued to demonstrate stable growth. Adj. Operating Profit for the quarter grew by 21% QoQ to Rs 32 crore with operating margin of 14.4% vs 13.3% in Q1FY25. PAT grew by 33% QoQ from Rs 21 crore in Q1FY25 to Rs 28 crore in Q2FY25. However, the normalized PAT post adjustment of ECL was Rs 26 crore in Q1FY25 with normalised PAT Margin of 12.2% vs 12.0% in Q2FY25. The Balance sheet continues to remain strong with more than 750 crore of cash equivalents & marketable securities and zero debt as on Q2FY25. Business Highlights: Tax Services: The segment revenue grew by 22% QoQ, mainly due to the launch of certain govt. schemes post-elections. The company witnessed a significant gain in market share from 51.6% in Q2FY24 to 55.4% in Q2FY25 showcasing Protean’s strength in PAN business. Total no of PAN cards issued by Protean in Q2FY25 stood at 1.2 crore. Pension Services: The segment continues to demonstrate robust growth, growing 7% QoQ. During the quarter, 3.6 million new subscribers were onboarded, reflecting a growth of 40% QoQ. More than 826 corporates have been on-boarded during the Quarter. NPS Vatsalya: The pension scheme for minors launched by the Government of India in mid-September 2024 got off to a good start with more than 25,000 accounts opened with Protean. New Businesses: Continue to show early momentum and the company’s focus on contributing towards multiple Open Digital Ecosystems (ODEs), is gaining traction, especially in the areas of e-commerce (ONDC) and Agriculture. Our suite of digital services, built as a vertical integration on top of the foundational identity DPI, is also growing steadily, complementing India’s digital growth story. Suresh Sethi, Managing Director and Chief Executive Officer, Protean eGov Technologies, said: “With another good quarter, Protean continues to drive robust growth in alignment with Digital India's vision, evidenced by steady performance across key business segments. The digital landscape in India has witnessed notable developments in recent months, especially in the financial and identity sectors, where DPIs are creating new avenues for citizens and enterprises alike. We continue to expand our multi-sectoral reach, innovating in ODEs across e-commerce, mobility & transport, open finance, agriculture, health, education, and sustainability. The recent launch of our open finance stack within ONDC is one such initiative, enabling seamless last-mile access to financial services. Another key initiative, Protean LIFE, aims to bridge the gap between seekers and providers by streamlining the discovery, engagement, and management of sustainability initiatives from inception to completion. Protean’s recognition as the Best Digital Public Infrastructure company at the Global Fintech Fest 2024 reflects our commitment to high-impact, scalable solutions that are strengthening a digitally enabled future across the globe. We continue to leverage our unique expertise in e-governance and digital services, remaining agile and responsive to new opportunities in India’s evolving digital landscape as well as other parts of the world. With a strong foundation, we remain confident of delivering value to our stakeholders while strongly contributing towards India’s digital transformation”. Result PDF