One Point One Solutions Q4 Results: Net Profit Jumps 125% YoY On Higher Sales Growth

One Point One Solutions has informed exchanges that its net profit in Q4FY24 more than doubled on account of higher income. Net profit rose 125.76% to Rs 6.66 crore in the Q4FY24 as against Rs 2.95 crore during the Q4FY23. Sales rose 46.75% to Rs 52.36 crore in the Q4FY24 as against Rs 35.68 crore during the Q4FY23.

For the full year, net profit rose 143.23% to Rs 21.38 crore in FY24 as against Rs 8.79 crore during FY23. Sales rose 21.04% to Rs 169.76 crore in FY24 as against Rs 140.25 crore during FY23.

The shares of One Point One Solutions were trading higher at Rs 55.45 during the afternoon deals on Thursday with a market cap of Rs 1,180 crore. The stock has a 52-week high of Rs 70 apiece and a 52-week low price is Rs 20.35 on the BSE. The stock has delivered a multibagger return of 160 per cent in the last one year and 640 per cent in five years.

Recently, the company has announced a collaboration with a Gurugram-based hyperlocal retail start-up which is a strategic move to tap into the burgeoning opportunities presented by the government-backed Open Network for Digital Commerce (ONDC). The Gurugram-based start-up is also set to benefit from a comprehensive range of BPM services offered by the company. These services include customer support and order management through various communication channels such as voice, email, and chat.

During FY24, the group acquired a 100% stake in M/s. ITCube Solutions Private Limited with effect from 22 February, 2024 vide agreement dated 22nd February, 2024. As per the terms of aforesaid agreement, 76% of shares are transferred in the name of One Point One Solutions Limited and liability towards the remaining 24% stake is recognised at the present value in the financial statements. The treatment of which is in line with Ind AS 103 - Business Combinations and accordingly the group has recognized a post-acquisition gain i.e. for the period from 22 February, 2024 to 31 March, 2024 of Rs. 121.99 Lakhs during the quarter and year ended 31 March 2024, according to the company.

One Point One offers you the most advanced business process management systems and conversational AI technologies for customers. The company, which is publicly traded, provides top-notch business process management solutions. The organisation holds certifications in ISO 9001:2015, ISO/IES 27001:2013, SOC1 and SOC2, and has over a decade of expertise and innovation in offering the widest variety of services available in the market.