GlobalSpace Technologies posts stellar results in FY2020

GlobalSpace Technologies Limited announced its results for year ending March 31, 2020.

Key Highlights:

- The Company has reported total revenue of INR 84.61 Mn. in Q4FY20 as against INR 30.18 Mn. in Q4FY19.

- The EBITDA and PAT margins stood at 76% and 65% respectively in Q4FY20. Margin improvement was led by significant contribution to the revenues from the platforms business.

- The Company's total revenue for the fiscal year 2020 stood at INR 259.22 Mn. against INR 155.12 Mn. in the previous year.

- The improvement in the top line was as a result of improved traction in the platforms business in both the Healthcare and Education Vertical.

- EBITDA amounted to INR 65.86 Mn. in FY20 against INR 65.01 Mn. for the fiscal year 2020.

- Profit after Tax (PAT) has increased by 135 % YoY to INR 28.52 Mn. for the year 2020.

- Standalone performance was even better during fiscal 2020 as the company posted PAT of Rs 40.44 Mn. as against Rs 12.15 Mn. in fiscal 2019.

FY2020 has been quite a commendable year for the Company. The Company managed to achieve good growth in terms of revenue and profitability coupled with that, it has significantly made inroads in its two key verticals of Healthtech & EduTech, emerging as one of the leading Digital platform and solution provider in those verticals.

Commenting on the FY2020 performance, Mr. Krishna Singh, Founder & CMD, 'We are very pleased with our performance during the year FY2020. The company has registered substantial improvement both in terms of revenue and profitability growth. Our focussed efforts on two of the key verticals - Healthcare & Education has contributed to the improved performance of the company. With large part of development expenses incurred, the company is now geared to reap the benefit of its investment and enter into a high growth trajectory'.

He further added that, 'With a solid foundation and efforts in building up unique platforms, we are more excited about the future growth prospects of the company. The recent challenging times of COVID-19 has opened up major opportunity for us especially our Digital platforms in the HealthTech & EduTech space. With the launch of DocExa platform, we are quite optimistic to post substantially improved performance in Q1FY2021. The company's edge in both the verticals is likely to be the major growth driver for the company in coming years'.

GlobalSpace Technologies have taken COVID-19 scenario in an opportunistic way and have done major developments in its products offering. The ongoing pandemic situation led to the majority of Indians depending on online tech-based platforms for their doctor consultations, medicine deliveries and for Education as well.

Shares of Globalspace Technologies Ltd was last trading in BSE at Rs.57.85 as compared to the previous close of Rs. 58.8. The total number of shares traded during the day was 2765 in over 28 trades.

The stock hit an intraday high of Rs. 58.75 and intraday low of 52.9. The net turnover during the day was Rs. 155231.

Source : Equity Bulls

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