Tracxn Technologies, which listed on the stock exchanges last month, had reported a loss of INR 4.83 Cr in Q2 FY22
India contributed INR 5.99 Cr to the total revenue in Q2 FY23, while international operations accounted for INR 13.11 Cr
Tracxn’s total expenses grew to INR 18.23 Cr from INR 16.85 Cr during the same period last fiscal year
Market intelligence platform Tracxn Technologies reported a profit after tax of INR 1.54 Cr in the second quarter (Q2) of the financial year 2022-23 (FY23) as against a loss of INR 4.83 Cr in the corresponding quarter of the previous fiscal year. It had reported a profit of INR 84 Lakh in the previous June quarter.
This was the first quarterly result published by the startup after its stock market debut last month.
Revenue from operations surged 28% to INR 19.11 Cr in Q2 FY23 from INR 14.9 Cr in Q2 FY22. Of this, India contributed INR 5.99 Cr, while international operations accounted for INR 13.11 Cr. On a quarter-on-quarter basis, it rose 4%.
Total income zoomed 32% year-on-year (YoY) to INR 15.24 Cr during the quarter ended September 2022.
Meanwhile, Tracxn’s total expenses grew to INR 18.23 Cr from INR 16.85 Cr during the same period last fiscal year. Employee benefits contributed nearly 90% to the total expenses, accounting for INR 16.25 Cr during the quarter under review.
Employee stock option accounted for 6% of the total expenditure at INR 1.1 Cr.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at INR 61 Lakh in Q2 FY23 as against an EBITDA loss of INR 5.11 Cr during the same quarter last fiscal. EBITDA stood at INR 19 Lakh in June quarter.
In terms of key operational metrics, the startup claimed to service 1,155 accounts at the end of Q2 FY23 as against 985 during the same period last year. Number of users also grew by 17% to 3,365 in Q2 FY23. The startup said it has profiled 19.2 Lakh entities since its inception so far.
Founded in 2013 by venture capitalists Abhishek Goyal and Neha Singh, Tracxn operates a market intelligence platform out of Bengaluru.
The startup went public last month and saw positive response form investors. The shares were listed at INR 83 apiece on the BSE at a premium of 3.75% while it debuted on NSE at INR 84.50 at a premium of 6%.
Tracxn is only the second new-age tech startup after Delhivery to get listed on Indian bourses this year. While many startups were expected to go for IPOs this year, the ongoing market volatility and negative market sentiment has forced them to defer IPO plans.
Tracxn largely competes with San Francisco-based company Crunchbase in the small yet competitive sector.
Tracxn reported its Q2 results on Wednesday. Its shares ended 0.19% higher at INR 77.95 on the BSE.