Magellanic Cloud Reports Strong Q2 FY25 Results, Showcases Growth in IT, Drone Technology, and Staffing Solutions.
Varahimedia.com,Hyderabad, November 14, 2024: Magellanic Cloud (BSE: MCLOUD), a prominent player in the global tech sector, has announced its financial
Varahimedia.com,Hyderabad, November 14, 2024: Magellanic Cloud (BSE: MCLOUD), a prominent player in the global tech sector, has announced its financial results for Q2 FY25, ending September 30, 2024. The company’s focus on innovative advancements in IT, IT services, e-surveillance, and drone technology has contributed to its continued year-on-year (Y-o-Y) and quarter-on-quarter (Q-o-Q) growth, reinforcing its value proposition to clients worldwide.
CEO’s Statement Reflecting on the quarter’s achievements, Magellanic Cloud’s Global CEO & MD, Mr. Joseph Sudheer Thumma, remarked, “Our Q2 results underscore the strength of our diversified technology portfolio and unwavering commitment to transformational growth. This quarter showcases our robust strategy to own, acquire, and innovate in key tech areas, driving future industry trends. Notable partnerships and recognition in the Him-Drone-A-Thon competition highlight our leadership in the drone and IT domains. Our focus on generative AI, surveillance, and drone technology positions us to lead with a strategic vision that brings exceptional value to stakeholders.”
Key Financial Highlights
- Revenue from Operations: ₹157.30 crore in Q2 FY25, up from ₹154.07 crore in Q2 FY24.
- EBITDA: ₹51.73 crore in Q2 FY25, marking a 27.64% growth from ₹40.53 crore in Q2 FY24.
- EBITDA Margin: Stood at 32.89% for Q2 FY25.
- PAT: ₹24.42 crore, showing a 10.66% increase from ₹22.07 crore in Q2 FY24.
Drone Sector Milestones (Scandron Private Limited)
- DGCA Approvals: Scandron received its second DGCA approval for its Agri Drone in the small category and is the first in India to secure certification for a logistics drone, allowing it to participate in initiatives like Drone Didi.
- Defense Trials: Successfully conducted trials with defense forces at medium and high altitudes, enhancing its role as a trusted partner in military logistics.
Staffing Achievements (JNIT Technologies)
- High-Value Contract: Secured a ₹450 million contract for expat hiring with a major global semiconductor company, reinforcing its role in talent solutions across critical international markets.
- Strategic Partnerships: Formed a partnership with India’s leading analytics firm, expanding access to specialized talent in data science and machine learning for contract staffing, boosting JNIT’s positioning in high-impact project staffing.
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