eMudhra Limited reports another quarter of healthy revenue growth at 39.1% y-o-y,4.2% qo-q with EBITDA margin at 35.9%

Bengaluru, India – January 25, 2023: eMudhra Limited (BSE: 543533, NSE: EMUDHRA), a digital trust, digital security and paperless transformation solution provider, today announced its financial results for the Third Quarter of FY23 ended on December 31, 2022 as approved by its Board of Directors.

Commenting on the second quarter results, V.Srinivasan, Executive Chairman, eMudhra Limited said, “We are pleased to report another quarter of consistent performance with revenue growth of 39.1% % y-o-y and PAT growth of 46.0% y-o-y. During the quarter, the EBITDA margins stood at 35.9% and PAT margins stood at 24.4%.

On trust services, we continue to focus on driving growth through direct sale to retail customers through our online channels and by acquiring and engaging with a larger set of partners who directly deal with end customers. To this end we will invest into technology and marketing to drive direct customer acquisition. Similarly, we remain focussed on growing eSign and SSL business as more use cases around paperless transformation and cyber security in government and private sector get implemented.

On Enterprise Solutions, we continue to see healthy demand in India and International markets. In India, the recent amendments to the IT Act allowing property transactions and power of attorney to be digitally signed is giving impetus to newer use cases. In International markets, we continue to pursue opportunities that are greenfield, where customers engage with us from the outset to run paperless transformation programs or for bettering their cyber security posture and where customers are looking for cost optimization as part of their overall cyber security and digital transformation goals. We continue to invest into both technology R&D and sales teams to pursue these opportunities meaningfully.

I am also pleased to announce that eMudhra has been recognized as a “Great Place to Work” by the Great Place to Work institute which is a confirmation on our organization culture.”

Key Project Wins

  • Acquisition of a significant customer (a large State owned entity that is a trust service and eStamping provider) in the Indonesian market for driving eSignature and eStamping use cases with introduction of Mobile based digital signatures in Indonesian market
  • Rollout of our Certificate Discovery product for a very large public sector Bank in India that will enable key and certificate lifecycle management across users, devices etc allowing the bank to secure their infrastructure using PKI technology.

Other Business Highlights

  • Launch of trust services in Kenya with focus on driving adoption of digital signatures in initial set of use cases in eGovernance and BFSI
  • Significant enhancements to our online portals and technology to ease partner enrolments, fulfilment and end customer acquisition and offer superior customer support through 360- degree view of customer and personalized marketing
  • Expansion of Sales teams including leadership hire in North American market and on-ground teams in select countries in Middle East and African markets

Most Popular

More from Author

Read Now

Youngsters are Taking Charge of their Financial Future through Real Estate

Gurugram, Haryana, India | 3rd February 2023: Saurabh Thareja, Director of  Urban Plus Infra build says we cannot deny the fact that investing in real estate is a great way to build wealth. Getting started with real estate investing at a young age is a great idea for several...

Real Estate Players Hails Budget 2023: Lauds Government’s Move to Boost Infrastructure

New Delhi, Delhi, India | 3rd February 2023: India's real estate fraternity has reacted positively to the Union Budget 2023 presented by the Finance Minister on February 1st, 2023. The Union Budget for this year was primarily aimed at boosting the Indian economy and revitalising it. The real estate...

Sphot’23 Concludes with Exciting Possibilities for Real-World AI Applications

Sphot'23 concluded with the launch of Pravid, Saarthi's cutting-edge Communication AI platform.

Union Budget 2023-24: What It Means for the Future of the Automotive Sector?

Union Budget 2023-24: A Post-Budget Perspective on the Indian Automotive Sector.

Business Leaders Give Thumbs Up to Union Budget 2023’s Growth-Focused Provisions

Understand the impact of the Union Budget 2023-24 on the Indian economy through the eyes of business leaders and why they are optimistic about its potential.

SBICAPS opens new office in Bengaluru, to focus on infrastructure, defence and start-ups

BENGALURU, India | 1st February 2023: SBI Capital Markets Limited (SBICAPS), a wholly owned subsidiary and investment banking arm of State Bank of India (SBI) on Monday announced the opening of its office in Bengaluru. Inaugurated by Shri Dinesh Khara, Chairman, SBI, in the presence of Shri Swaminathan J, Managing Director (CB...

Vedanta Aluminium Raises USD 250 Mn in Sustainability Linked Loans

New Delhi, Delhi, India | 1st February 2023: Vedanta Aluminium, India’s largest producer of aluminium, has raised USD 250 million through Sustainability Linked Loans (SLL) from leading international banks, for financing its capex initiatives and reducing carbon footprint. The loans were granted on the basis of specific performance parameters...

Dr. Stephen Kahane Joins Suki’s Board of Directors to Elevate Voice AI in Healthcare

Voice AI Technology for Healthcare Gets a Boost with Dr. Kahane on Suki's Board.