Mumbai, January 31, 2025 – IRIS Business Services Limited (NSE: IRIS, BSE: 540735) announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024. The company reported a robust growth in revenue and profit, driven by strong performance in its SupTech and RegTech segments.
Key Financial Highlights (₹ in Lakhs)
| Particulars | Q3 FY25 | Q3 FY24 | YoY Growth | 9M FY25 | 9M FY24 | YoY Growth |
|---|---|---|---|---|---|---|
| Revenue from Operations | 3,283.13 | 2,734.42 | 20.1% | 9,132.64 | 7,194.32 | 26.9% |
| Total Income | 3,332.02 | 2,744.50 | 21.4% | 9,303.38 | 7,234.93 | 28.6% |
| EBITDA (excl. other income) | 550.92 | 236.65 | 132.8% | 1,728.31 | 642.64 | 169.1% |
| Net Profit (Standalone) | 344.98 | 164.15 | 110.2% | 982.06 | 369.59 | 165.7% |
| Net Profit (Consolidated) | 359.33 | 176.46 | 103.6% | 1,037.02 | 406.49 | 155.2% |
| Earnings Per Share (EPS) | 1.83 | 0.91 | 101.1% | 5.28 | 2.10 | 151.4% |
- Employee Costs: ₹1,630.63 lakhs in Q3 FY25, up from ₹1,311.78 lakhs in Q3 FY24, reflecting business expansion.
- Other Expenses: ₹1,132.89 lakhs, up 5.7% YoY.
- Finance Costs: Reduced to ₹18.58 lakhs from ₹28.78 lakhs in Q3 FY24, indicating improved financial management.
Segment-Wise Performance
| Segment | Q3 FY25 Revenue (₹ Lakhs) | YoY Growth | 9M FY25 Revenue (₹ Lakhs) | YoY Growth |
|---|---|---|---|---|
| SupTech | 1,579.82 | 26.1% | 4,481.82 | 39.3% |
| RegTech | 1,169.14 | 11.4% | 3,129.60 | 16.6% |
| TaxTech | 426.03 | 25.3% | 1,208.96 | 18.9% |
| DataTech | 16.48 | (27.1%) | 61.43 | (17.7%) |
| Others | 91.66 | 32.0% | 250.83 | 23.6% |
Corporate Actions
Allotment of Equity Shares on Preferential Basis
- IRIS issued 5,43,477 equity shares on conversion of warrants at ₹184 per share (face value ₹10, premium ₹174).
- Investors:
- Pratithi Growth Fund I: 3,80,434 shares
- Tunga India Long Term Equity Fund: 1,63,043 shares
- Total Funds Raised: ₹9,99,99,768 (₹9.99 crore)
- Purpose: Strengthening working capital and expansion.
Management Commentary
K. Balachandran, Whole-Time Director & CFO, commented:"We have delivered a solid quarter with strong revenue and profit growth, particularly in our SupTech and RegTech verticals. Our focused investments in technology and customer acquisition continue to yield results. The successful allotment of equity shares on a preferential basis further strengthens our financial position, enabling us to scale operations and pursue strategic opportunities."
Outlook & Strategic Plans
- Expansion in RegTech & SupTech Solutions: IRIS aims to enhance its global footprint in compliance and regulatory reporting solutions.
- Strengthened Financial Position: Reduced debt, improved cash flow, and successful fundraising position the company for sustained growth.
- Focus on Innovation: Investment in AI-powered solutions for regulatory compliance and business reporting.