Basilic Fly Studio Soars with Rs 19 Cr Net Profit in H1 FY24

PNN
New Delhi [India], November 1: Basilic Fly Studio Limited. (NSE - BASILIC) one of the leading visual effects (VFX) studio in India, announced its unaudited Financial Results for H1 FY24.
H1 FY24 Key Financials at a Glance:
* Total Income reported of Rs 52 crore
* EBITDA of Rs 24.05 crore
* EBITDA Margin of 46.31 per cent
* Net profit of Rs 18.88 crore
* Net Profit Margin of 36.37 per cent
* EPS Of Rs 21.19
Commenting on the performance, Balakrishnan, Managing Director & CEO of Basilic Fly Studio Limited said, "H1 of FY24 has been truly been a remarkable and eventful period for us. Notably, we successfully secured a listing on the SME Platform of the NSE through an IPO that broke records. Alongside this incredible milestone, our financial performance has seen significant and noteworthy improvements.
During H1 FY24, we achieved a remarkable Net Profit of Rs 18.88 Cr, which accounts for an impressive 68 per cent of our entire FY23 annual net profit. This outstanding result not only demonstrates our remarkable capabilities but also reinforces the strong reputation we have earned in our industry.
Furthermore, in response to the growing demand for our services and the favorable industry conditions, we have expanded our team significantly. We've also strategically brought in several industry veterans to occupy key senior positions, which we believe will drive our future growth. Additionally, the funds we raised from the IPO will empower us to expand our presence by establishing new studios not only in India but also in other key markets across North America, Europe, and Asia.
Given our outstanding H1 performance, the favorable industry conditions, the proceeds from our IPO, our dedicated team, and our robust project pipeline, we hold a highly optimistic outlook for H2 FY24 and the subsequent years."
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