IRIS Business Services Q3 profit grows 19% to Rs 1.8 crore

Navi Mumbai-based RegTech SaaS company IRIS Business Services has recorded consolidated net profit at Rs 1.76 crore for the quarter ended December FY24, growing 19.2 percent over the corresponding period last fiscal, with a healthy topline growth.

Consolidated revenue from operations grew by 44.8 percent year-on-year to Rs 27.3 crore for the quarter, indicating that the growth momentum is intact at global Regtech, the company said in its BSE filing.

On the operating front, EBITDA (earnings before interest, tax, depreciation and amortisation) increased by 16 percent on-year to Rs 3.5 crore, but the margin dropped 320 bps to 12.83 percent in the third quarter of FY24.

For the nine-month period ended December FY24, the consolidated net profit surged 50.4 percent to Rs 4.06 crore compared to the year-ago period.

Revenue from operations during the April-December period of the current financial year jumped to Rs 71.9 crore, rising 35.7 percent over the same period last fiscal.

"The growth in revenues has been driven by the Collect segment, which increased sharply to Rs 32.16 crore for the 9 months in FY 24 from Rs 17.24 crore in the corresponding period in FY23, however, growth in the Create segment was subdued with revenues going up from Rs 33.19 crore to Rs 36.77 crore during the same period, IRIS Business Services said.