- Tracxn, a financial data aggregator, reported a significant increase in net profits, reaching Rs 2.16 crore for the quarter ending September 30, 2023, marking a threefold growth compared to the previous quarter.
- The company’s total revenue for the same period rose to Rs 22.48 crore, representing an 8.2% increase from the previous quarter’s revenue of Rs 20.76 crore.
- Despite the revenue growth, total expenses slightly contracted to Rs 19.49 crore, with a major portion allocated to employee costs, amounting to Rs 17.1 crore for their 783 employees.
- Tracxn achieved its highest quarterly EBITDA of Rs 2 crore in Q2 FY24, with an EBITDA margin of 9.5%, even considering non-cash expenses such as ESOP.
- The company plans to invest in growth initiatives focused on marketing, sales, and account expansion, and expects increased new customer acquisition and expansion as markets continue to open up. Approximately 66% of Tracxn’s revenues come from international clients across more than 50 countries.