Sustained momentum in new project bookings to the tune of US $80 Mn+ during the quarter leads to a robust order backlog
Commenting on the results and performance Mr. Sanjeev Verma, Whole Time Director, Black Box said,
“We are extremely pleased with our performance for Q2 and H1FY24. We have reported strong improvement in EBITDA margins and overall profitability owing to cost rationalization program and improved productivity yields. Our project order book in North America continues to be robust on the back of order wins in excess of US$80 million during the quarter. Our business model remains resilient and each of our business segments continue to gain traction which gives us the confidence to deliver better performance over the coming quarters”
Mr. Deepak Kumar Bansal, Executive Director and Global Chief Financial Officer of Black Box,
commented, “Revenues for Q2FY24 remained flat on YoY and QoQ basis whereas for H1FY24 revenue grew by ~7% YoY. Order book continues to be strong, however, we have exited some of the low-revenue customers account who do not have future growth potential and were drag on margins. Our strong focus on profitability over the last few quarters has started yielding positive results and we are confident that this improvement trajectory should continue in the future as well.”
About Black Box Ltd.
Black Box Limited (formerly AGC Networks Limited) is a trusted IT solutions provider delivering cutting-edge technology solutions and world-class consulting services to businesses around the globe.
The breadth of Black Box’s global reach and the depth of expertise accelerate customer success by bringing people, ideas, and technology together to solve real-world business problems. Black Box’s IT infrastructure solutions, services, and products enable secure, flawless connectivity and meaningful collaboration for businesses in every major market sector on six continents.
Safe Harbor Statement
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
Black Box contact: Neelam Kapoor | Tel: +91 981 973 0611 | Email: neelam.kapoor@blackbox.com