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NXTDigital turns around its business with Rs 13.66 crore profit in Q4

The company has reported Rs 277.96 crore revenue for the quarter.

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KOLKATA: NXTDigital has turned its business profitable by raking in Rs 13.66 crore profit after tax (PAT) for the fourth quarter. The company has reported Rs 277.96 crore consolidated revenue for the quarter.

It posted Rs 0.32 crore PAT in the previous quarter and a loss after tax of Rs 43.43 crore in the corresponding quarter of the previous year. The revenue also grew by 6.95 per cent over the previous quarter of Rs 259.90 crores and by 22.38 per cent over the corresponding quarter of the previous year.

The Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) for the quarter at Rs 67.54 crores was higher by 8.10 per cent over the EBITDA of the previous quarter of Rs 62.47 crores and a 167 per cent growth over the EBITDA of the corresponding quarter of the previous year.

For overall FY 21, the company recorded an EBITDA of Rs 232.08 crore, growing by 6.16 per cent over the EBITDA of the previous year of Rs 218.62 crores (excluding one-time revenues of Rs 123.12 crores in the previous year. Consolidated revenue for the year remained consistent at Rs 1,008.5 crores, marginally down from Rs 1,038 crores –due to a reduction in the low-margin non-core trading business.

“The stellar performance can be attributed to the company’s focus on uninterrupted customer service during the lockdown and after, innovative products and solutions to combat the myriad of ground challenges, driving close to a 100 per cent digital mode of collections on a prepaid basis and the unstinting and tireless efforts of all our employees and our Last Mile partners - all of whom rose to the occasion, without exception,” NXTDigital MD & CEO Vynsley Fernandes said.

The company will continue to focus on its transformation to an “all-digital” services company, driving a host of new products and solutions, whilst expanding into new geographies. One of the key growth drivers for the future will be its recently launched infrastructure sharing PaaS or Platform-as-a-Service offering.

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