NEW DELHI: Anant Raj has reported a growth of 58.17 per cent its net consolidated profit during the quarter ended December 30, 2024. Its profit after tax stood at Rs 71.43 crore in Q3 FY24 as against Rs 45.16 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 401.02 crore in Q3 FY24, a growth of 43.14 per cent from Rs 280.16 crore it recorded in the similar quarter last year.
The company has successfully completed qualified institutions placement (QIP Issue) of Rs 500 crore. It is utilising 75% of the proceeds of the QIP Issue to prepay its outstanding borrowings and also speeding up the expansion of the Data Centre out of the proceeds of QIP.
Amit Sarin, managing director of the company said, “With successful closure of QIP, the debt of the company will be reduced to negligible level, thus, having better operational efficiency and improved margins in coming quarter. The debt reduction is in line with guidelines given by the company at the beginning of the financial year.”
During the quarter ended December 31, 2023, the company approved the preferential issue of up to 9,02,527 fully paid equity shares of face value of Rs 2 per equity shares, at an issue price of Rs 277 (including premium of Rs 275 each) per equity share to Gagandeep Credit Capital aggregating upto Rs 25 crore and upto 17,85,714 fully convertible warrants, each carrying a right exercisable by the warrant holder to subscribe to one equity shares of face value of Rs 2 per warrant, at an issue price of Rs 280 per warrant, to Ashok Sarin Anant Raj LLP, entity belonging to promoter group category, aggregating upto Rs 50 crores.
