PNN

Mumbai (Maharashtra) [India], November 9: Digikore Studios Limited. (NSE - DIGIKORE), specialized in delivering Visual Effects (VFX) for a diverse range of projects, announced its unaudited Financial Results for H1 FY24.

Key Consolidated Financial Highlights H1 FY24:

* Total Revenue of Rs 24.79 Cr

* EBITDA of Rs 9.31 Cr

* EBITDA Margin of 37.56%

* PAT of Rs 6.15 Cr

* PAT Margin of 24.80%

* EPS Of Rs 45.70

Key Standalone Financial Highlights H1 FY24:

* Total Revenue of Rs 24.79 Cr

* EBITDA of Rs 9.40 Cr

* EBITDA Margin of 37.94%

* PAT of Rs 6.24 Cr

* PAT Margin of 25.17%

* EPS Of Rs 46.39

Commenting on the performance, Abhishek More, Managing Director of Digikore Studios Limited said, "The first half of FY24 has been marked by remarkable and eventful milestones. We successfully launched our SME IPO and achieved outstanding financial results for this period.

What's particularly noteworthy is the significant growth we've experienced in H1 FY24 compared to the entire fiscal year FY23. Our revenue reached approximately 70% of FY23, EBITDA surged by around 126%, and Net Profit soared to approximately 143%.

One of the major drivers of our growth has been our strategic expansion into content production for both Indian and international OTT networks, which has made a substantial contribution to our revenue and profitability. Additionally, our strategic shift away from North American markets has played a pivotal role in generating higher revenues.

The explosive growth in global OTT consumption continues to drive Digikore Studios' success, and this growth trajectory is expected to persist over the long term. Furthermore, the resolution of the 146-day strike has opened the door to an influx of new work orders, further enhancing our growth prospects.

In light of these promising developments, we are gearing up for a transformative journey. Our ambitious plans include establishing a robust senior team in North America to strengthen and foster new collaborations.

The strong performance in H1 FY24, driven by forward integration, geographical diversification, and the infusion of funds from our IPO, positions us for even more remarkable growth in the future."

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