Tracxn's Net Profits Grow Threefold in QoQ


Tracxn's Net Profits Grow Threefold in QoQ
Tracxn, a financial data aggregator, has reported impressive financial growth for  the quarter ending September 2023. The company's net profits have surged threefold to Rs 2.16 crore, while its total revenue has grown robustly to Rs 22.48 crore, reflecting an 8.2% increase from the previous quarter's Rs 20.76 crore. Tracxn's financial, filed with the National Stock Exchange, indicates that its total expenses have slightly contracted, totaling 19.49 crores.
Employee costs constitute a significant portion of the total expenses, amounting to 17.1 crore for 783 employees. The company attributes the increase in headcount to growth initiatives taken in the previous year. However, these initiatives have now been optimized through automation and efficiency measures. Tracxn achieved an EBITDA of 2 crore for Q2 FY24, boasting an EBITDA margin of 9.5%, which includes non-cash expenses such as ESOP. This marks their highest quarterly EBITDA and EBITDA margin to date. The company has outlined plans to invest in growth initiatives such as marketing, sales, and account expansion.
The company's investors are pleased with its impressive web traffic performance.the company's website received around 9 million organic search traffic hits in the first half of the fiscal year 2024, compared to 8.7 million in the previous period. Tracxn also highlights that as the markets continue to open up, the company is expected to acquire new customers and expand its customer base at a faster pace. The company's global presence is reinforced by the fact that more than 50 countries contribute to 66% of its total revenue.
Tracxn is a private market data intelligence platform that was Founded in 2012 by Abhishek Goyal and Neha Singh. It is well-known for providing comprehensive and up-to-date data on over 2.3 million private companies worldwide, across various sectors and geographies. Tracxn's SaaS-based platform offers valuable insights into private company funding, financials, key personnel, competitors, and market trends. In October 2022, Tracxn achieved a significant milestone by becoming a publicly listed company on the BSE and NSE, which further solidified its position in the financial data aggregation industry.