PRNewswire Navi Mumbai Maharashtra [India] May 20 Global Regtech IRIS Business Services Limited BSE 540735 clocked revenues of Rs 10296 crore for the year financial year ended March 31 2024 a growth of 37 from the year preceding Keeping pace with revenues the company turned in an EBITDA of Rs 1588 crore a 45 growth YOY Net profit more than doubled hitting a record high of Rs 879 crore The company operates through 3 business segments * COLLECT the business division that delivers solutions to regulators and accounted for 45 of revenues in FY24 This is an enterprise software business * CREATE which delivers regulatory filing solutions to enterprises including BFSI players This overwhelmingly SaaS business contributed to 51 of the total revenues in FY24 * CONSUME the datatech business which accounts for the rest and whose importance comes from its support for the other two segments The Collect segment made it possible says company CEO S Swaminathan pointing to the whopping 70 increase in revenues of this division In the absence of fresh mandates Create segment registered but a modest revenue growth of 21 We have spent the last few months strengthening our sales and marketing team who are now gearing up for a customer acquisition spree for IRIS Carbon by looking beyond mandate driven opportunities explained Deepta Rangarajan company founder With Rs 16 cr of cash in the bank we are confident of being able to kickstart the efforts from internal resources alone says company CFO founder K Balachandran Share of India revenues fell to 28 with 72 of IRIS revenues coming from global markets Africa emerged as the biggest driver of growth accounting for 30 of revenues largely driven by the South African Reserve Bank mandate won by IRIS a couple of years ago We are deepening our engagement in Africa considering that it is an underserved area for digital regulatory compliance solutions Swaminathan explained We expect future growth for IRIS Carbon to come from Europe and North America for which we are gearing up Deepta added pointing to the recent sales and marketing hires Balachandran pointed to the all round improvement in key metrics Debt equity ratio which was already at a low 017 has fallen further to 013 Interest coverage ratio registered a dramatic improvement surging from 1629 to 2268 Our return on equity is now 21 up from 14 in the year preceding the CFO says with satisfaction About IRIS Business Services IRIS Business Services Limited is a global Regtech company listed on the BSE Limited Scrip code 540735 and National Stock Exchange of India Limited Symbol IRIS The Company is a leading provider of regulatory reporting software solutions to regulators and enterprises serving over 6000 clients across the world Logo httpsmmaprnewswirecommedia2404308IRIS_Business_Services_Logojpg ADVERTORIAL DISCLAIMER The above press release has been provided by PRNewswire ANI will not be responsible in any way for the content of the same