Tera Software Limited , a prominent player in the IT solutions sector, has announced its financial results for the second quarter, showcasing significant growth across key metrics.

Impressive Revenue Growth

The company reported a substantial increase in its consolidated revenue, which reached ₹714.00 crore for the quarter, compared to ₹253.00 crore in the same period last year. This remarkable growth of approximately 182% year-over-year underscores Tera Software's strong market position and effective business strategies.

Profitability Surge

Tera Software's profitability saw an even more impressive surge. The consolidated net profit for Q2 stood at ₹66.00 crore, a significant leap from ₹13.00 crore reported in the corresponding quarter of the previous year, marking a robust 407% increase.

Segment-wise Performance

The company's financial results reveal strong performances across its business segments:

The Projects Division emerged as the primary revenue driver, contributing significantly to both the top and bottom lines.

Financial Position

As of September 30, Tera Software's balance sheet reflects a solid financial position:

• Total Assets: ₹2,546.73 crore
• Equity Share Capital: ₹125.12 crore
• Other Equity: ₹1,210.82 crore

Management Commentary

T. Gopichand, Chairman and Managing Director of Tera Software Limited, commented on the results, stating, "Our Q2 performance reflects the company's ability to capitalize on market opportunities and deliver value to our stakeholders. The substantial growth in revenue and profitability is a testament to our team's hard work and our strategic initiatives."

Conclusion

The strong Q2 results position Tera Software favorably in the market. The company's focus on its core business segments, particularly the high-performing Projects Division, has contributed significantly to its current performance.

Note: All figures are based on the consolidated financial results for the quarter ended September 30, as reported by Tera Software Limited.

Tera Software Limited , a company specializing in IT solutions, has announced a significant business development that promises to boost its project portfolio and revenue stream. The company has been awarded a substantial contract worth ₹58.12 crore by the West Bengal State Electricity Distribution Company Limited (WBSEDCL) for implementing a spot billing system across multiple zones in West Bengal.

Contract Details

The project, which spans over three years, involves the implementation of spot billing for medium and low voltage domestic and commercial consumers under the billing system. This system will cater to consumers with connected loads below 50 KVA within WBSEDCL's jurisdiction across various zones in West Bengal.

Zone-wise Breakdown

The contract is divided among different zones, with specific allocations as follows:

Project Scope

The spot billing system is designed to enhance the efficiency of electricity billing processes for WBSEDCL. It will cover a wide range of consumers, potentially improving billing accuracy and customer service across the state.

Company's Disclosure

Tera Software Limited made this announcement in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received multiple Letters of Award (LOAs) from WBSEDCL, collectively amounting to the total contract value of ₹58.12 crore.

Implications for Tera Software

This contract represents a significant opportunity for Tera Software to strengthen its position in the utility sector and showcase its IT capabilities in large-scale billing systems. The multi-year nature of the project also provides the company with a steady stream of revenue over the next three years.

The successful implementation of this project could potentially open doors for similar contracts in other states or with other utility companies, further enhancing Tera Software's market presence in the IT solutions space for the utility sector.

As the project unfolds, stakeholders will likely keep a close eye on Tera Software's execution capabilities and the impact of this contract on the company's financial performance in the coming quarters.