Conference Call with Onward Technologies Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Onward Technologies Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Onward Technologies Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company Onward Technologies announced Q3FY24 & 9MFY24 results: Reported 9MFY24 revenue growth of 10.8% YoY to Rs 353.9 crore with a double-digit EBITDA margin of 11.0% and PAT grew by 6.4 times YoY to Rs 27.2 crore. Reported Q3FY24 revenue decline by 5.1% QoQ to Rs 114.1 crore with EBITDA margin of 8.2% primarily impacted due to higher furloughs. Continued to maintain momentum in its focused verticals in Q3FY24: Industrial Equipment & Heavy Machinery contributed 51% of consolidated revenues. Transportation & Mobility accounted for 38% of consolidated revenues. Healthcare contributed 8% of consolidated revenues. 13 clients now deliver more than $1 million in revenues on annualized basis. Top 25 clients contribute 85% of total revenues. Total headcount stood at 2,604 employees. Commenting on the results, Jigar Mehta, Managing Director, Onward Technologies, said, “We reported a revenue growth of 10.8% on a YoY basis and sustained a double-digit EBITDA margin of 11.0% in 9MFY24. Our commitment to profitable growth across three focused industry verticals and targeted geographies will continue. In a seasonally soft quarter, deal pipeline momentum remained strong. We are well poised to leverage the investments made in building capabilities and hiring experienced sales and delivery leadership. Our dedication to execute remains strong as we continue to focus on delivering value to our stakeholders, customers, and employees.” Result PDF