Maxposure Limited Reports Strong FY24 Results
May 20, 2024
BusinessWire India
New Delhi [India], May 20: Maxposure Limited, a pioneering force in the new-age media and entertainment sector with a distinct focus on the aviation market, has announced its financial results for the fiscal year 2024, showcasing strong growth. The company's annual performance highlights include a doubling of year-on-year (YOY) net profit and a significant 49 per cent increase in revenue compared to the previous fiscal year.
Key Highlights from Maxposure's FY24 Results on consolidated basis are as follows:
Net Profit Surges by 104 per cent: Maxposure Limited achieved a notable milestone with a 104 per cent increase in net profit compared to the previous fiscal year. This substantial growth reflects the company's strong operational performance and strategic initiatives.
Revenue Growth of 49 per cent: Maxposure recorded a healthy 49 per cent increase in revenue for FY24, demonstrating sustained business expansion and customer demand across its product lines.
Most Subscribed IPO of 2024: Maxposure Limited's Initial Public Offering (IPO) emerged as the most subscribed IPO of the year, receiving an overwhelming response from investors. The IPO was oversubscribed by a staggering 987 times, underscoring market confidence in the company's prospects and offerings.
Shares Debut at 339 per cent Premium: Upon listing, Maxposure's shares debuted on the NSE at a remarkable premium of 339 per cent above the IPO price. This exceptional market debut signifies investor enthusiasm and underscores Maxposure's strong market position and growth potential.
Commenting on the strong FY24 results, Prakash Johari, Chairman and Managing Director of Maxposure Limited, stated, "We are pleased to present a solid financial performance for fiscal year 2024. The triple-digit increase in profit and double-digit growth in revenue reflect our commitment to delivering value to our stakeholders and customers. We are thankful for the overwhelming response to our IPO and the successful market debut. The current results further validate our vision and growth trajectory."
Maxposure Limited remains focused on its growth strategy, aiming to sustain momentum and capitalise on emerging opportunities in its operating markets. The company is committed to maintaining steady progress and delivering value to shareholders in the upcoming fiscal year.
The distinguished board members of Maxposure Limited have also conveyed their delight. Independent Directors Dr. Torsten-Joern Klein and Jorge Luis Arauz, along with Non-Executive Director Massimo Angelo Antonio Monti, expressed, "The healthy fiscal year 2024 performance of Maxposure signifies a pivotal achievement for the company, setting the stage for continued success moving forward."
Maxposure Limited is a dynamic player in the new-age media and entertainment sector, renowned for its innovative approach and commitment to delivering cutting-edge content. With a strategic focus on the aviation market, Maxposure Limited continues to redefine industry standards and set new benchmarks for success. Working with government and private clients, both in India and across the world, Maxposure Limited has four business divisions viz. Inflight Entertainment, Content Marketing, Technology, and Advertising.
Incorporated in 2006, Maxposure Limited is one of the few companies in India that offers 360-degree services across multiple content distribution platforms. The company's innovative and diverse service portfolio and result oriented strategies have aided in curating an industry-wide client selection across various geographies. Maxposure Limited has been associated with aviation and travel industry leaders, including IndiGo, Air India, Gulf Air, Air Arabia, Incredible India, Madhya Pradesh Tourism Board, Ministry of External Affairs, Oberoi Hotels and Resorts, the Taj Group of Hotels to name a few.
The company has developed a Wireless Streaming Server ("WMS") known as AeroHub WMS, which enables around 100 devices (phone, tablets, laptops) to stream content onboard aircrafts at high speed at a reduced cost as compared to traditional inflight screens. Also, as a part of its content marketing expertise, and to cater customers globally, the company offers content services in over 21 foreign and regional languages, including German, Russian, Arabic, Portuguese, Japanese, Chinese, French, Tamil, Marathi, Gujarati, Malayalam, Odia, etc.
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