Bodhtree Consulting's Revenue Collapse Deepens Losses in Q3 FY24
The IT services firm saw revenue fall nearly 90% year-on-year, with a widening net loss margin despite a sequential uptick in sales.
Bodhtree Consulting's Q3 FY24 results show a severe revenue contraction and continued losses. The company's top line has collapsed from over ₹22 crore a year ago to just ₹2.33 crore.
Bodhtree Consulting reported a severe contraction in its business for the quarter ended December 2023, with revenue plunging nearly 90% compared to the same period last year. While sales showed a modest sequential recovery from an extremely low base, the company's losses continued, and its net profit margin deteriorated significantly.
The latest quarter's revenue of ₹2.33 crore represents a staggering 89.6% decline from the ₹22.37 crore reported in Q3 FY23. On a quarter-on-quarter basis, revenue grew 32.4% from ₹1.76 crore in Q1 FY24. However, profit remained negative at -₹0.62 crore. This marks a 33.3% improvement from the -₹0.93 crore loss a year ago but a 31.9% deeper loss compared to the previous quarter. The net result is a sharply negative net profit margin of -26.9%, a dramatic fall of 2,270 basis points from the -4.2% margin in Q3 FY23.
A look at the last five quarters reveals the scale of the company's revenue decline and persistent challenges in reaching profitability.
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin (%)
| Metric | CurrentQ3 FY24 | Same quarter LYQ3 FY23 |
|---|---|---|
| Period | Quarter ended December 2023 | Quarter ended December 2022 |
| Revenue (₹ Cr) | 2.33YoY -90% | 22.37 |
| Profit (₹ Cr) | -0.62YoY +33% | -0.93 |
| Net Profit Margin (%) | -26.9YoY -540% | -4.2 |
Key Points
- The trailing twelve-month (TTM) revenue stands at ₹33.89 crore with a cumulative loss of -₹3.26 crore, resulting in a TTM net profit margin of -9.6%.
- Annual figures for FY23 show revenue of ₹39.34 crore and a substantial loss of -₹26.61 crore.
- Key quality metrics reflect the strain, with a Return on Equity (ROE) of -48.5% and a Return on Capital Employed (ROCE) of -36.01%.
With the business now operating at a fraction of its former scale, the immediate priority for Bodhtree is to stabilize its revenue base and chart a path back toward breakeven.
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· BODHTREE
(BSE)
ISIN: INE104F01029
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