Starcom Information Technology Q1 Results Downfall at Total Revenue of ₹0.49 crores & Net Income ₹1.49 crores

Starcom Information Technology Q1 Results: Starcom Information Technology's Q1 results show several key changes when comparing year-over-year (YoY) and quarter-on-quarter (QoQ) figures. The total revenue for the company in June 2024 was ₹0.49 crores, which is lower than both March 2023 (₹0.50 crores) and June 2023 (₹0.67 crores). The revenue dropped 27.43% YoY, indicating that the company's performance has weakened compared to the same time last year.

Starcom Information Technology expenses, the selling, general, and administrative expenses were ₹0.93 crores in June 2024. This is slightly higher than June 2023 (₹0.87 crores), showing a 6.74% increase YoY. However, it decreased by 44.95% QoQ. Other operating expenses increased YoY by 41.13%, going from ₹0.42 crores in June 2023 to ₹0.60 crores in June 2024.

Starcom Information Technology’s Operating income was negative, with a loss of ₹1.35 crores in June 2024, a larger loss compared to the ₹1.12 crores in June 2023, reflecting a 20.31% increase in loss YoY. The net income for the company also showed a significant loss YoY of 27.27%, indicating that the overall profitability has worsened over the past year. The diluted normalized EPS (earnings per share) also dropped YoY by 26.81%, highlighting continued financial challenges for the company.

(All figures in crores)

Source: Here 

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Starcom Information Technology Q1 Results

Starcom Information Technology table provides financial data over various periods, including the quarter ending June 30, 2024 (unaudited), the quarter ending March 31, 2024 (audited), the quarter ending June 30, 2023 (unaudited), and the year ending March 31, 2024 (audited).

For the latest quarter (June 2024), Starcom Information Technology earned ₹48.81 crore from sales, which was lower than the ₹67.26 crore it earned in June 2023 but higher than ₹27.62 crore in March 2024. The company also made ₹0.05 crore in other income. Despite earning ₹48.86 crore in total income, their expenses were much higher, totaling ₹198.12 crore. These expenses include ₹27.63 crore for stock purchases and ₹58.76 crore for employee salaries. They also had finance costs of ₹14.59 crore and bad debts provisions of ₹34.16 crore.

Starcom Information Technology recorded a loss of ₹149.26 crore before taxes for June 2024. Although there was a deferred tax benefit of ₹158.16 crore, after all calculations, the company still posted a loss of ₹149.26 crore. This was better than the previous quarter's loss of ₹418.93 crore.

Here is a table summarizing the financial data:

(Rs. in Lakhs)

Starcom Information Technology Stock Performance

This table shows the financial information for Starcom Information Technology. The company's Market Cap is ₹58.4 crore, which is the total value of its shares. The Current Price is ₹117, which is the cost of one share. Over the last year, the share price has ranged between ₹147 (the highest) and ₹49.5 (the lowest). The Book Value is ₹-37.6, meaning the company has more liabilities than assets. It has a Dividend Yield of 0%, so it doesn't pay dividends.

Here’s the information you provided in a table format:

Quarterly Results 

The table shows the financial performance of Starcom Information Technology over three quarters: Dec 2023, Mar 2024, and Jun 2024. In all these quarters, the company’s sales remained low, ranging from ₹0.25 crore to ₹0.49 crore. However, its expenses were much higher, leading to consistent losses. The company recorded negative operating profits and net profits in all quarters, with the largest loss in Mar 2024 (₹-4.19 crore). The operating profit margin (OPM) was significantly negative, indicating inefficiency. 

Here is the data for Dec 2023, Mar 2024, and Jun 2024 with the respective particulars:

About Starcom Information Technology 

Starcom Information Technology is a company based in Bangalore, India, that was founded in 1995. It is listed on the Bombay Stock Exchange under the ticker BOM: 531616. Starcom is a leader in providing automated data management solutions, mainly for the banking and insurance industries. The company offers a platform called Star360, which gives businesses a complete view of their customers. This platform connects various digital systems, customer relationship management (CRM) tools, and business intelligence resources to help companies understand their customers better.

Another key product is StarDQ, a tool designed to improve the quality of data by cleaning, enriching, and deduplicating it. StarDQ has processed over 1 billion customer records and works automatically, which means it can fit into a company’s existing processes without needing manual data quality teams. Additionally, Starcom provides StarBI, a self-service business intelligence tool that helps users turn data into valuable insights. With StarBI, users can easily track important metrics, visualize data, and generate reports quickly. Overall, Starcom Information Technology focuses on helping organizations make better decisions by using advanced data management and analysis tools.