GlobalSpace Technologies Limited announces Q3FY21 results

GlobalSpace Technologies Limited (BSE Code: 540654), one of the leading HealthTech and EduTech digital platform provider, has announced results for the third quarter ended on December 31, 2020.

Quarterly Comparisons:

On Consolidated basis for the Q3 FY2020-21,

- PAT: INR 18.62 Mn (against loss of INR 32.89 Mn in Q3FY2020)
- Revenues: INR 67.61 Mn (grew by 12.87% on y-o-y basis)
- EBITDA: INR 29.74 Mn (against loss of INR 31.13 Mn in Q3FY2020)
- EBITDA and PAT margins stood at 43.98% and 27.54% respectively.
- There has been substantial turnaround in performance over last year.

On a consolidated basis, the Company has generated a total revenue of INR 67.61 Mn for the threemonths ended December 31, 2020, 12.87% higher than INR 59.90 Mn in the previous quarter. EBIDTA stood at INR 29.74 Mn with margins of 43.98% versus -31.13% in Q3FY2020. Profit after tax (PAT) amounted to INR 18.62 Mn in Q3FY2020-21 with the margin of 27.54% against loss of INR 32.89 Mn in Q3FY2019-20. Substantial growth of PAT is as a result of tech upgradation of DocExa platform to handle increased load.

Nine-Monthly Comparisons:

On a consolidated basis, total revenue during nine-months ended December 31,2020 stood at INR 196.19 Mn, 12.36% higher than INR 174.62 Mn in the same period last year. EBITDA was at INR 100.93 Mn, up by ~81x YoY. EBITDA margin stood at 51.45% in 9MFY2020-21. The Company has reported a Profit after tax (PAT) of INR 64.44 Mn in 9MFY2020-21 with the margin of 32.85% as against loss of INR 26.33 Mn in 9MFY2019-20.

Commenting on the Company's performance for Q3FY21, Mr. Krishna Singh, Founder & CMD, 'We at Globalspace Technologies are extremely happy while updating our stakeholders about strong performance during third quarter of FY2021 where we have achieved consolidated net profit of INR 18.62 Mn for this period and have posted 12.87% y-o-y growth in top-line. There has been substantial turnaround in performance over last year, the same was in line with our expectations. We are further consolidating our healthtech and edutech platforms. Major highlights of the quarter are tech upgradation of DocExa platform to handle increased load. During this quarter Makebot (A subsidiary of Globalspace Technologies Limited) in association with Times of India had launched - 'Codingbee' world's largest online coding platform competition for students across grade 3rd to 12th, which has provided substantial impetus to the growth prospects and visibility for GlobalSpace Technologies Ltd.'

Shares of Globalspace Technologies Ltd was last trading in BSE at Rs.62 as compared to the previous close of Rs. 66.55. The total number of shares traded during the day was 43958 in over 280 trades.

The stock hit an intraday high of Rs. 69.85 and intraday low of 61.8. The net turnover during the day was Rs. 2890297.

Source : Equity Bulls

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