Transcorp International Reports 159% Jump in Standalone Profit Before Tax in Q1

Transcorp International Limited has reported strong financial growth for the first quarter and announced significant changes to its board composition. The company, a leading player in foreign exchange, remittances, and payment solutions, shared these updates in its recent board meeting held on July 31.

Financial Highlights

Transcorp International showcased robust financial performance in Q1:

• Standalone Profit Before Tax (PBT) surged by 159% year-on-year to ₹86.68 lakh, up from ₹33.53 lakh in the same quarter of the previous year.
• Total standalone revenue increased to ₹25,195.16 lakh from ₹22,879.94 lakh in the previous year quarter.
• Revenue from the sale of foreign currency rose to ₹8,373.92 lakh from ₹6,623.82 lakh in the previous quarter.
• Revenue from the sale of traveller cheques and cards grew to ₹4,871.21 lakh from ₹3,716.04 lakh in the previous quarter.

Key Operational Achievements

• Transcorp International reached a milestone of 5 million Transcorp PPI Cards issued during the quarter.
• The Financial Inclusion Division reported a steady increase in income from April to June.
• Employee Benefit Expenses were optimized, declining slightly to ₹453.73 lakh from ₹457.57 lakh in the previous quarter.
• 16 Customer Service Points (CSPs) under Transcorp International were recognized by SBI Maharashtra LHO for outstanding contributions in the previous fiscal year.

Consolidated Results

The consolidated results showed total revenue of ₹25,377.59 lakh with consolidated Profit Before Tax at ₹191.08 lakh for the quarter.

Board Appointments

The company announced two significant appointments to its board:

1. Mr. Sujan Sinha (DIN: 02033322) has been appointed as the Chairman of the Board of Directors, effective August 1. Mr. Sinha, an Independent Director, brings extensive experience in financing industries and has worked with numerous NBFC companies.

2. Mr. Harshvardhan Raghunath (DIN: 01675460) has been appointed as the Chairman of the Nomination and Remuneration Committee (NRC), effective August 1. Mr. Raghunath, a Non-Executive Independent Director, has vast experience across banking, financial services, insurance, asset management, and other sectors. He previously served as a Partner & Director at Boston Consulting Group.

ESOP Allotment

The Nomination and Remuneration Committee approved the allotment of 24,900 equity shares (face value of ₹2 each) under the Employee Stock Option Plan 2017. This allotment increases the company's total issued shares to 3,19,53,244 and the paid-up share capital to ₹6,39,06,488.

Transcorp International continues to demonstrate strong growth in its core segments, with a focus on operational excellence, digital transformation, and customer-centric innovation. The new board appointments are expected to further strengthen the company's leadership and contribute to its ongoing success in the financial services sector.