Magellanic Cloud posts Rs 28 crore profit in Q1
PTI
New Delhi, Jul 22 (PTI) IT company Magellanic Cloud on Tuesday posted a 4.75 per cent increase in consolidated profit after tax to Rs 27.77 crore in the June quarter.
The company had posted profit after tax of Rs 22.59 crore.
The total income of Magellanic Cloud increased 23.16 per cent to Rs 164.34 crore during the first quarter of the current fiscal year from Rs 159.18 crore a year ago.
'Magellanic Cloud delivered a strong start to FY26, reporting revenue of Rs 163.96 crore, EBITDA growth of 19.14 per cent, and PAT up 22.93 per cent year-on-year. Our multi-vertical momentum, backed by product innovation and global partnerships, positions us well for an accelerated trajectory this fiscal year," Magellanic Cloud Global CEO and MD Joseph Sudheer Reddy said.
He said the company closed acquisition of Finoux during the quarter, which marks its official entry into Al-powered financial analytics and robo-advisory automation.
'We recorded a TCV (total contract value) close to Rs 100 crore across our core verticals — IT services, e-surveillance, and drone technology," Reddy said. PTI PRS TRB
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
38 minutes ago
- Time of India
Plans afoot to develop craft & handloom village in Maheshwar
Indore: The Madhya Pradesh Tourism Board (MPTB) is planning to involve local artisans from Kharia village in Maheshwar through choupals, aiming to transform the village into a craft and handloom hub. In Maheshwar, the board intends to develop a textile village, cafeteria, traditionally designed home stays, and restaurants that will be operated by the local community. Kharia village in Maheshwar is home to more than 100 weavers. "A choupal is planned for next week with artisans at Kharia village in Maheshwar to understand their needs and explore how the craft tourism village could help transform their lives. This initiative will give them an economic tool to enhance their income and a platform to showcase Maheshwari textile to all discerning tourists coming to see the beauty of quaint Maheshwar and expanse of grand Narmada," said tourism and culture principal secretary Sheo Shekhar Shukla. The choupal will be attended by villagers, representatives from NGOs, and senior officials from the tourism department. MPTB has submitted a proposal to handlooms development commissioner for developing "textile tourism" in Maheshwar. The villages of Kharia and Keriakhedi in Maheshwar accommodate approximately 146 weavers. The estimated cost of the project is approximately Rs 511 crore. The proposed project will also feature an experience centre, cycling tracks and common areas, alongside scenic ghats, all aimed at enhancing local infrastructure and attracting tourists. The tourism board is also working on establishing another craft village in Dhar to promote the renowned Bagh print. Kukshi and Bagh, notable areas in Dhar district, are famous for their unique Bagh print — a traditional hand-block printing technique using natural colours and vegetable dyes. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
an hour ago
- Time of India
1.2L bridal wear goes missing during ‘delivery'
Kolkata: A bridal outfit, valued at Rs 1.2 lakh, which was entrusted to a popular ride-hailing and delivery service for transportation, has gone missing. All attempts to contact the assigned delivery agent went futile after he switched off his cellphone and kept it that way for over six hours. Chirag Palriwala, CEO of a fashion firm in Salt Lake, which specialises in bridal wear, lodged a complaint at the Bidhannagar South Police Station. According to the complaint, the bridal outfit was slated for delivery on June 28 but never reached its destination. The delivery service, known for its global reach and technological prowess, was accused of negligence and failure to provide adequate customer support. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata | Gold Rates Today in Kolkata | Silver Rates Today in Kolkata Palriwala reported that the delivery executive assigned switched off his phone for over six hours, rendering all attempts to track the parcel futile. Despite multiple complaints lodged through the company's app, no resolution was provided. The package was neither delivered nor returned, leading to suspicions of misappropriation during transit. The incident not only resulted in financial loss for the fashion firm but also caused significant emotional distress and potential damage to the brand's reputation as they had to restitch a similar dress in 12 hours. Police have registered a case under BNS, 2023. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
an hour ago
- Time of India
I-Day address: CM outlines state's growth agenda, says MP will lead nation's self-reliance drive
Bhopal: CM Mohan Yadav hoisted the national flag at Lal Parade Ground in Bhopal on Friday and addressed citizens on the 79th Independence Day, blending tributes to freedom fighters with a detailed account of Madhya Pradesh's achievements and future roadmap. Greeting people, Yadav recalled the sacrifices of Tantya Mama, Khajya Nayak, Raja Bhabhut Singh, Chandrashekhar Azad, Tatya Tope and women icons Rani Durgavati, Rani Avantibai, Rani Kamalapati, Rani Lakshmibai and Jhalkari Bai. He said Operation Sindoor had showcased India's strength, while PM Modi's 11 years in office marked "unprecedented achievements" including the abrogation of Article 370, the Nari Shakti Vandan Act and India's rise as the world's fourth-largest economy, soon to be the third. Yadav said Aatmanirbhar Bharat was not just a scheme but "a people's movement". He called Swadeshi a mantra of self-respect and urged people to support Vocal for Local and Local for Global. On state progress, Yadav said the 2025–26 budget had no new taxes, with a target of doubling its size. Per capita income rose from Rs 1.39 lakh to Rs 1.52 lakh. Four flagship missions -- Yuva Shakti, Nari Shakti, Kisan Kalyan and Garib Kalyan -- are underway. Recruitment for 1 lakh government posts is on, with 2.5 lakh jobs targeted in five years. Declaring 2025 the Year of Industry and Employment, Yadav said exports had grown 6%, Rs 5,000 crore support was given to entrepreneurs, and 1,000 new industrial units had been allotted land, promising Rs 40,000 crore investment and 93,000 jobs. The Global Investors Summit 2025 in Bhopal drew proposals of Rs 5.75 lakh crore in renewable energy, expected to generate 1.85 lakh jobs. For farmers, wheat was procured at Rs 2,600 per quintal, 32 lakh solar pumps will be given in three years, and Rs 46,700 crore has been released under PM-Kisan and CM Kisan Kalyan in 18 months. Crop insurance worth Rs 1,383 crore was credited to 14 lakh farmers. Women schemes include raising Ladli Behna allowance to Rs 1,500 per month and the Lakhpati Didi initiative benefiting over 10.7 lakh families. Concluding, Yadav said MP would lead India's growth. "From agriculture to startups, defence to culture, Madhya Pradesh will be at the forefront of India's march towards self-reliance and global leadership," he said. Address highlights 2025–26 budget presented with no new taxes; per capita income up to Rs 1.52 lakh Yuva Shakti, Nari Shakti, Kisan Kalyan, Garib Kalyan targeting youth, women, farmers and poor 1 lakh recruitments in progress; 2.5 lakh jobs in next 5 years; Rs 5,000 monthly incentive for youth in job-oriented industries Exports up 6%; Rs 5,000 crore assistance to entrepreneurs Six new expressways, 1 lakh km roads, 500 flyovers, 30,000 km rural link roads planned Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
