Gandhinagar, India, February 07, 2025: Information Technology and Software Consultancy Services provider, DRC Systems India Limited (BSE: 543268) (NSE: DRCSYSTEMS), “DRC Systems” “The Company” today announced its financial results for the third quarter (Q3) and nine months ended period December 31, 2024, as approved by its Board of Directors.
The company has achieved commendable growth in its consolidated net profit, which increased by 39% year-on-year, amounting to INR 1066.6 Lakhs for the third quarter of FY2024-25. Additionally, DRC Systems reported a progressive revenue growth of 59% Y-o-Y, totalling INR 4844.8 Lakhs compared to INR 3055.9 Lakhs previous year for the ninemonth period. The revenue growth was fueled by higher earnings from existing customers, customized IT solutions designed to meet client needs, and strengthened support through effective sales and marketing campaigns throughout the year.
DRC Systems’ third-quarter performance and overall financial growth for this year reflect significant progress, driven by our expansion efforts in the Middle East, Europe, and the US. Revenues from Middle East region have significantly boosted revenue from Free Zone clients while our strategic joint venture in UAE to offer Platform as a Service (PaaS) on a Low-Code No-Code (LCNC) platform has also grown well. The Indian and US markets also continue to generate strong revenues for software development services for the company.
“Our previous year’s efforts to expand internationally along with offerings of PaaS on LCNC as service have delivered tangible results, with a substantial rise in revenue contribution this quarter. At the same time, our strategic move into GenAI is also expected to generate strong returns. With Al adoption accelerating across software, services and hardware, we anticipate GenAI services becoming one of the major revenue drivers of our diversified portfolio. At DRC Systems, our initial focus will be on GenAI services, paving the way for broader software-driven innovations at a later stage,” said Mr Hiten Barchha, Managing Director, DRC Systems India Limited.
As per the market estimate, India’s GenAI market is projected to grow from $1.1 billion in 2023 to over $17 billion by 2030 at a CAGR of 48%, with Al spending expected to reach $6 billion by 2027. Globally, Al investments are set to exceed $512 billion by 2027.
During the third quarter, DRC Systems broadened its service portfolio by offering implementation and postmaintenance support for enterprises or organisations using Pimcore-licensed software. This initiative enables businesses/organisations to optimize service and maintenance costs by outsourcing deployment and ongoing support, enhancing their overall operational efficiency.
“We see strong demand for implementation and maintenance support from companies using Pimcore’s licensed software. This presents a new revenue opportunity for us. At DRC Systems, we have consistently built our services around niche and emerging markets, and this expansion aligns with our vision” said Mr Hiten Barchha, Managing Director, DRC Systems India Limited.
DRC Systems is an IT services and Consultancy Company in India focused on providing viable and lasting solutions to businesses. We are focused on innovation and creativity to lead the change, since its advent in 2012. With competent teams of developers, project managers, and strategists, we help our customers overcome their business challenges with customised software development. Our services and solutions help businesses scale the market. Over the years, we have diversified our service offerings through a mix of organic growth and strategic transactions. We believe the wide range of services that we offer enables us to build stronger relationships with our clients and cross sell our services. Our customer base is spread across geographies and majorly to Europe, USA, Middle East and Asia.
