63 Moons Technologies limited, a leading technology solutions provider, has reported a robust financial performance for the first quarter. The company's unaudited financial results, approved by its Board of Directors on August 12, showcase significant growth and profitability.

Financial Highlights

• Net Profit: The company posted a net profit of ₹1,731.01 crore, marking a substantial turnaround from a loss of ₹1,210.99 crore in the same quarter last year.
• Total Income: Total income surged to ₹6,785.64 crore, up from ₹4,438.35 crore year-over-year, representing a growth of about 53%.
• Earnings Per Share: The basic and diluted earnings per share (not annualized) stood at ₹3.76.

Key Developments

1. Investment in Subsidiary: During the quarter, 63 Moons Technologies made an additional investment of ₹750 crore in its subsidiary, National Spot Exchange Ltd (NSEL). However, this investment was subsequently written off.

2. Annual General Meeting: The company has scheduled its 37th Annual General Meeting for September 24, to be held via video conferencing.

3. Dividend Proposal: The Board has proposed a final dividend of ₹1.20 per share for the year ended March 31, subject to shareholder approval and court orders.

Segment Performance

The company's financial results are categorized into two main segments:

The 'Others' segment includes process management, shared business support services, IT infrastructure sharing, and NBFC-related services.

Ongoing Legal Proceedings

63 Moons Technologies continues to face legal challenges related to the National Spot Exchange Limited (NSEL) matters. The company is involved in various investigations and litigations, including:

• Civil suits filed against the company in relation to events on the NSEL trading platform.
• Ongoing investigations by the Economic Offences Wing of Mumbai Police, Central Bureau of Investigation, and other regulatory bodies.
• Proceedings under the MPID Act and the Prevention of Money Laundering Act.

The management maintains that the company will be able to defend its position in these legal matters.

Future Outlook

Despite the legal challenges, 63 Moons Technologies has demonstrated strong financial performance this quarter. The significant increase in total income and the turnaround to profitability indicate positive momentum for the company. However, the ongoing legal proceedings and their potential outcomes remain a factor to watch in the coming quarters.

Investors and stakeholders will be keenly observing how the company navigates its legal challenges while maintaining its growth trajectory in the technology solutions sector.

Note: All financial figures are in Indian Rupees (₹) and are based on the unaudited financial results for the quarter.

63 Moons Technologies Ltd. (formerly Financial Technologies India Ltd.) has released its financial results, showcasing a mixed performance with revenue growth and a decline in net profit. The company also announced a dividend for its shareholders.

Financial Highlights

• Revenue Growth: 63 Moons Tech reported a significant increase in revenue, rising to ₹559.40 crore from ₹418.00 crore in the same quarter last year, marking a 33.83% year-over-year growth.

• Net Profit Decline: Despite the revenue growth, the company's net profit decreased to ₹156.80 crore from ₹295.80 crore in the corresponding quarter of the previous year, representing a 47.00% decline.

• Exceptional Item: The company reported an exceptional item of ₹85.00 crore, compared to a loss of ₹75.00 crore in the previous year, which positively impacted the bottom line.

• Profit Before Tax (PBT): 63 Moons Tech saw a significant improvement in its PBT, which rose to ₹107.10 crore from a loss of ₹46.90 crore in the same quarter last year.

Dividend Announcement

In a move that may please shareholders, 63 Moons Technologies has recommended a final dividend of ₹1.20 per share.

Quarterly Performance Analysis

A closer look at the company's quarterly performance reveals some interesting trends:

The quarterly data shows that while the company has seen a slight improvement in revenue and other income compared to the previous quarter, it continues to face challenges in terms of operating profit and net profit.

Annual Performance Overview

For the full fiscal year, 63 Moons Technologies demonstrated stronger performance compared to the previous year:

The annual figures highlight a substantial turnaround in the company's profitability, with significant improvements across all key financial metrics.

63 Moons Technologies' mixed quarterly results, coupled with its strong annual performance and dividend announcement, reflect the company's resilience in navigating market challenges while focusing on long-term growth and shareholder value.