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Q1FY25 Results: Eraaya Lifespaces’ net profit surges

Q1FY25 Results: Eraaya Lifespaces’ net profit surges

Q1FY25 Results: Hospitality major Eraaya Lifespaces has announced its quarterly results for the first quarter of the financial year 2024. According to an exchange filing, the company reported net profit of 0.95 crore in the quarter ended June 2024. This is a surge of 1800 per cent when compared to the net profit of Rs 0.05 crore during the same quarter a year ago.

However, the company’s total revenue declined 92.74 per cent to Rs 2.00 crore in the quarter ended June 2024 as against Rs 27.53 crore during the previous quarter ended June 2023.

Meanwhile, the company is closer to acquiring 100% equity in Ebix Inc as the bid submitted by the consortium led by the Company has been approved and accepted as the highest and best bid for Ebix.

“It was taken on record that the bid for acquiring 100% equity of Ebix Inc. (“Ebix”) submitted by the consortium led by the Company has been approved and accepted as the highest and best bid for Ebix and declared as the winner following the auction process overseen by the U.S. Bankruptcy Court. Ebix ascribes the bid at an enterprise value of about $361 million,” the company said in an exchange filing.  

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