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Hot Pursuit News

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(01 Dec 2023, 11:52)

Protean eGov Tech gains after Q2 PAT climbs 28% YoY to Rs 33 cr

Protean eGov Technologies advanced 1.11% to Rs 1,212.20 after the company’s consolidated net profit jumped 27.65% to Rs 32.78 crore in Q2FY24 as compared with Rs 25.68 crore recorded in Q2 FY23.

Revenue from operations stood at Rs 235.69 crore during the quarter, registering growth of 32.66% as against with Rs 177.66 crore posted in Q2 FY23.

Profit before tax was at Rs 43.28 crore in Q2 FY24, increase 25.81 % YoY.

Total expenses stood at Rs 205.09 crore during the second quarter of FY24, up 33.76% as compared with Rs 153.33 crore posted in Q2 FY23. Processing charges stood at Rs 116.31 crore (up 56.03% YoY), employee benefit expense was at Rs 37.94 crore (up 37.94% YoY) and finance costs stood at Rs 0.41 crore (up 64% YoY) during the period under review.

Meanwhile, the company’s board approved additional investment in open network for digital commerce upto Rs 15 crore to contribute towards the growth and expansion plans of ONDC.

Further, the company’s board approve...

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