Cressanda Solutions Ltd, a leading railways concierge service provider specializing in advanced IT, Digital Media, and IT-enabled services, has achieved strong performance in Q2FY24. Company has reported revenue from operations of Rs. 19.49 crore in Q2FY24, 38% growth Q-o-Q as compared to revenue of Rs. 14.13 crore in Q1FY24. Net profit for Q2FY24 rise multi-fold to Rs. 5.1 crore as compared to Rs. 12 lakh in Q1FY24.
The company reported a net profit of Rs. 6.08 crore in FY23, rising to Rs. 5.1 crore in Q2FY24, indicating strategic initiatives for growth and future roadmap. The company has incorporated a Wholly Owned Subsidiary (WOS), “Cressanda Renewable Energy Solutions Limited,” on November 9, 2023. It secured a bid from Eastern Railways for advertisement services on EMU trains, concierge services, and mail/express and premium trains. On September 27, 2023, the company entered into a share purchase agreement to acquire a 51% stake in Mastermind Advertising Private Limited.
The company has appointed Arun Kumar Tyagi as Joint Managing Director and Executive Director, Chander Prakash Sharma as Independent Director and Chairman, Vijay Solankias as Chief Technology Officer and Non-Executive Director, and Rajkumar Dinesh Masalia as Executive Director to its Board of Directors, effective August 7th, 2023.
