Mumbai, Sep 15 (PTI) Bodhtree Consulting Ltd, an IT consulting and software services provider, today reported 33 per cent increase in net profit at Rs 33.86 lakh in Q1 FY18 as against Rs 25.44 lakh in the same period last year.
Revenue also increased to Rs 26.55 crore from Rs 10.50 crore in Q1 FY17. EBIDTA was at Rs 3.35 crore, up from Rs 2.13 crore in Q1 FY17, a company statement said here.
The company recently signed Fidelity, VRK Global and Madhya Pradesh Power Generating Company as clients for providing GST services and the Indian Coast Guard for implementing enterprise solutions.
Commenting on the results, L N Ramakrishna, managing director, said, “Our GST business is doing well and we have signed contracts worth Rs 10 crore for the current year and the figure is expected to reach Rs 50 crore in the next three years.
“Considering the pace at which we are acquiring business in GST services, enterprise solutions, cloud computing and other software solutions business, we are confident to grow at 50 per cent CAGR for the next three years.”
Vertoz Advertising plans to go public to raise Rs 20 cr Vertoz Advertising plans to go public to raise around Rs 15-20 crore from the market shortly.
The company is filing DRHP (IPO papers) next week and seeking approval to list its shares on the NSE SME.
With a valuation of Rs 60 to Rs 100 crore, the company plans to raise Rs 15 to 20 crore from the market. Vertoz promoters are looking at diluting around 25 per cent of their stake in the company, a statement issued here said.
Vertoz recently ventured into the US market, where it operates out of New York with a five-member team. The advertising firm is in the process of expanding in the American market, it said.
The firm plans to spend the IPO proceeds to expand its footprints in Europe, West Asia and South-Eastern markets.
Vertoz is a programmatic advertising company focused on building a better technology for easy buying and selling of media. It is planning to scale up by sourcing more demand and supply partners, on-boarding new advertisers and publishers and upselling & cross-selling various ad channels/formats, the statement said.
This is published unedited from the PTI feed.