Black Box Ltd, an IT solutions provider has reported 55% growth in net profit at ₹37 crore as compared with ₹24 crore in the year ago period.

Revenue for Q1FY25 stood lower at ₹1,423 crore, compared with ₹1,571 crore in Q1 FY24.

“Despite this, the company’s pipeline remains robust, with the order book growing to $475 million as of June 30, 2024,” the company said. Black Box is Essar’s key investment in the technology space.

Sanjeev Verma, Whole Time Director, Black Box said, “Our strategic exit from low-value, non-accretive customers had a short-term impact on revenue.”

“However, our relentless focus on productivity and margins allowed us to meet EBITDA targets and nearly achieve PAT guidance. Core operations demonstrated robust strength, with substantial growth in key areas, highlighting the resilience of our business model,” he said.

“As we move into FY25, our focus will remain on capitalizing on our strong pipeline and robust order book. With each business segment gaining momentum, we are confident in our ability to deliver enhanced performance and meet our revenue and profitability guidance,” he added.