ITCONS E-Solutions Reports 38.71% YoY Revenue Growth In H1 FY25

ITCONS E-Solutions, a leading player in India’s staffing and human resource solutions sector, has announced an impressive performance for the first half of FY25, reflecting robust growth and strategic advancements.

The company achieved a 38.71 per cent year-on-year (YoY) increase in revenue, amounting to Rs 17.95 crore for the six months ending September 30, 2024, compared to Rs 12.94 crore during the same period last year. Net profit surged by 68.13 per cent YoY to Rs 1.29 crore, up from Rs 76.76 lakh, showcasing remarkable profitability. Earnings Per Share (EPS) for the period stood at Rs 2.57, further underlining ITCONS’ financial resilience.

In July 2024, ITCONS successfully raised Rs 71.28 crore by issuing 1.4 crore equity share convertible warrants at Rs 71 per warrant on a preferential basis. This strategic capital infusion bolstered the company’s reserves and surplus, which stood at Rs 8.90 crore in FY24. The funds are being deployed to support diversification efforts into the green energy sector and other sectoral investments.

ITCONS expanded its portfolio significantly during H1 FY25 by adding 10 new government clients and securing several high-value private sector contracts. Notable deals include a Rs 17.4 crore agreement with the National Institute of Biologicals to provide 129 personnel, a Rs 2.63 crore manpower services contract with the National Mission for Clean Ganga, and a Rs 2.56 crore deal with Adani Group’s Maharashtra Border Check Post Network, highlighting the company’s robust operational capabilities and its ability to cater to diverse client needs.

Dr. Gaurav Mittal, Managing Director, credited the growth to a combination of operational efficiency, strategic foresight, and market-driven innovation.

“Our focus in FY25 is to diversify into non-IT staffing alongside IT staffing services. With a healthy order book, we expect steady orders from existing clients and new additions. Our diversification into the solar power sector will further align us with India’s green energy goals. Additionally, we are scaling nationwide by establishing contact centers in every state and planning acquisitions to strengthen our market position,” said Dr. Mittal.

Stock Market Success
Since its debut on the BSE SME Platform in February-March 2023 with an IPO priced at Rs 51 per share, ITCONS’ stock has garnered strong investor confidence. The stock reached a high of Rs 767 and currently trades at Rs 580.90 (as of November 18, 2024).