Silicon Rental Solutions H1 FY24 Total Income Up 37%

Mumbai (Maharashtra) [India], November 10Silicon Rental Solutions Limited (BSE – 543615), is an IT equipment outsourcing company, providing end-to-end IT equipment on a rental and returnable basis in India, has announced its Unaudited Financial Results for the H1 FY24.

H1 FY24 Key Financials at a Glance:

  • Total Revenue Stood at ₹ 24.14 Cr in H1 FY24 vs ₹ 17.56 Cr in H1 FY23, growth of 34.27% YoY Basis
  • EBITDA Stood at ₹ 18.81 Cr in H1 FY24 vs ₹ 14.53 Cr in H1 FY23, growth of 29.47% YoY Basis
  • Net Profit Stood at ₹ 7.13 Cr in H1 FY24 vs ₹ 5.42 Cr in H1 FY23, growth of 31.45% YoY Basis
  • EBITDA Margin stood at 77.93% 
  • Net Profit Margin stood at 29.52% 
  • EPS stood at ₹ 6.73 
  • Depreciation stood at ₹ 9.53 Cr 
  • Operating Cashflow stood at ₹ 12.89 Cr

Commenting on the performance,Mr. Sanjay Harish Motiani, – Promoter, Chairman and Managing Director of Silicon Rental Solutions Limited said, “The first half of FY24 has commenced on a highly encouraging note for us. We’ve witnessed robust demand for our products during this period, a testament to our exceptional financial performance.

Our enduring customer relationships have proven instrumental in positioning us as the primary choice for IT equipment rentals. This preference is driven by the consistently high quality of our services and our unwavering commitment to uptime.

As India experiences unprecedented growth and economic expansion, we’ve noticed a shift in corporate preferences towards renting IT equipment rather than purchasing. This shift underscores the confidence our clients have in our offerings.

The India growth story, coupled with our steadfast client relationships, will serve as the cornerstone of our future growth. We are excited about the opportunities that lie ahead and remain committed to delivering exceptional value to our customers.”

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