PRNewswire
Mumbai (Maharashtra) [India], March 17: Lytus Technologies Holdings PTV. Ltd. (NASDAQ: LYT), a leader in platform services and next-generation technology, today announced its consolidated financial results for the six months ended September 30, 2024, highlighting significant revenue growth and improved profitability.
Key Financial Highlights:
* Revenue Growth: Reported $12.01 million for the six months period ended September 30, 2024, representing a 24% increase compared to $9.66 million in the six months period ended September 30, 2023.
* Profit After Tax: Posted a net profit of $648,972, with a profit margin of 5.40% due to efficient cost management. It represents a 151% increase compared to a net loss of $1,281,940 in the six months period ended September 30, 2023.
* Cash Flow: Generated positive operating cash flow of $182,070.
* Total assets: Reported a $34.17 million for the six months period ended September 30, 2024, an increase of 8.3% from $31.56 million in the six months period ended September 30, 2023.
* Total Liabilities: Reported a $15.24 million for the six months period ended September 30, 2024, a decrease of 2.2% from $15.58 million in the six months period ended September 30, 2023.
Dharmesh Pandya, Director and CEO of Lytus Technologies said, "This strong financial performance underscores our commitment to innovation and operational efficiency. Our strategic expansion into broadband services, along with disciplined cost management, has positioned us for sustained profitability and long-term growth. With a captive base of 4 million subscribers, we continuously innovate and launch new value-added services to meet the evolving demands of consumers and businesses. Our broadband service rollout in Telangana and Andhra Pradesh is expected to further boost revenue in the coming quarters, with additional investments planned in digital infrastructure and customer acquisition initiatives."
Shreyas Shah, Director and CFO of Lytus Technologies added, "Our ability to return to profitability while sustaining revenue growth highlights the effectiveness of our financial strategy. Our disciplined approach to cost management and strategic capital allocation ensures sustainable profitability while supporting our expansion initiatives."
For a detailed breakdown of Lytus Technologies' financial results, please visit https://ir.lytuscorp.com/.
About Lytus Technologies:
Lytus Technologies is a NASDAQ-listed platform services entity that builds and invests in businesses driving next-generation technology solutions. With a focus on digital streaming, HealthTech, fintech, AI, cybersecurity, and more, Lytus operates across India and various international markets, serving a growing base of 4 million active customers. Driven by a vision for innovation and excellence, Lytus is expanding into the Indian market, offering a spectrum of transformative business opportunities and pioneering next-generation technology solutions that reshape industries.
For more information about Lytus, please visit https://www.lytuscorp.com/.
Media Contact:
Sarah Bandukwala
Marketing & Communications, Lytus Group
M: +91 97698 03197
sarah@lytus.digital
media@lytuscorp.com
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