Vaishnavi Prakash
Cressanda’s Q3 2023-2024 revenue soars
New Delhi (India), February 15: Cressanda Railway Solutions empaneled with Central Bureau of Communication, Ministry of Information & Broadcasting is on a new high as its revenue growth in the third quarter of 2023-24 financial years has leaped forward to an impressive height.
While the total revenue grew by 296.39% QoQ (Quarter on Quarter) and 93.91% YoY (Year on Year), profit before tax jumped by 189.13% QoQ and 173.93% YoY.
Profit after tax grew by 163.89% QoQ and 161.79% YoY. Similarly the earning per share (EPS) grew by 155.56% QoQ and 153.33% YoY.
With the recent empanelment, the company can now bid for all government advertisements.
Well, to begin at the beginning, Cressanda Railway Solutions Ltd (BSE: CRESSAN) formerly known as Cressanda Solutions Ltd., a leading private sector Railway auxiliary (concierge) service and digital media company, just announced that Central Bureau of Communication (CBC), (erstwhile DAVP), Ministry of Information & Broadcasting, Government of India has empanelled it as an agency for display of advertisements through train exterior wrap. CBC has also approved the rates submitted by the company.
Speaking on the developments, Arun Tyagi, the ebullient Managing Director of Cressanda Railway Solutions said, “Our revenue growth is phenomenal. And this is possible for the unmatched service we give to our client,” adding “Earlier we had acquired advertising and concierge services rights for 500 plus trains of Eastern Railways. CBC has now empaneled us as an agency for display of advertisements on those trains. This development will have a positive impact on our business, as we are now eligible to bid for public sector, Central government and State government advertisements.”
Recently, Cressanda Railway Solutions has completed acquisition of 51% stake in Mastermind Advertising Pvt Ltd. The company has also entered into the sale purchase agreement with SYN Developers and participated in the e-bidding process of Uttar Pradesh State Road Transportation Corporation for providing advertisement services on the exterior surfaces of 1500 plus buses across 16 regions of Uttar Pradesh.
The achievements are just the beginning of a long innings that Cressanda is set to play effectively in the growth of Indian Railways.
About Cressanda:
Cressanda Railway Solutions Limited (Formerly known as Cressanda Solutions Ltd) is an India based private sector Railway auxiliary (concierge) service and digital media company. The Company has embarked on a transformative journey to innovate, expand and integrate its technology offerings with capabilities to service large institutional opportunities. These service contracts will typically have deep societal impact besides having profitable and long-term financial profile. To deliver and successfully execute turnkey projects, Cressanda in its new avatar has partnered with Best-in- class partners and on boarded top-notch talent with deep domain expertise. The Company in its pursuit to achieve its goals has already bid for a large institutional concierge opportunity to enhance overall customer experience.
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