PRNewswire
Navi Mumbai (Maharashtra) [India], February 1: An impressive 29% YoY growth in revenues for 9M FY 25, helped global fintech and compliance major, IRIS Business Services Limited record a whopping 155% YoY growth in Net profits for 9M FY 25, even after factoring in a 19% increase in the wage bill.
On a TTM basis, revenues have surged to Rs 123.64 crores, up from Rs 102.96 crore in FY 24. For now, growth continues to be driven by the Suptech segment while the Regtech segment turned in a relatively modest performance. Not surprisingly, Africa continues to be the biggest contributor to company revenues, accounting for a little over a third of the total revenues. India, comes second contributing 30% of the top line approximately.
“We are confident that our marketing efforts with IRIS Carbon will start yielding results in the days ahead,” says Company Founder Deepta Rangarajan. Deepta says that the early results from incremental spends on sales and marketing have given the company the confidence to move the marketing and sales outreach to a higher gear. “The response from our existing customers has been very positive,” she says, pointing to a rise in inbound enquiries.
“We are showing our customers how even as they use Carbon for reg reporting, they can use it for disclosure management too,” she says. “We are well placed to do serve the growing market for DM software considering that IRIS Carbon is already counted among the leaders in this market segment as G2 rankings show,” she adds.
In the immediate run, IRIS is also looking to serve the need for a robust software for ESG reporting. “Even in the unlikely event of a delay in the sustainability reporting mandate in the USA, the rest of the world is big enough to accommodate our aspirations,” she says, pointing to the G2[1] findings which rank IRIS Carbon well above all of its competitors in the case of ESG reporting.
[1] G2, now a Gartner company, is arguably the largest and most trusted software marketplace. Software buyers use G2 to make software decisions based on authentic peer reviews from fellow professionals.
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