Tracxn posts highest-ever topline after 3X improvement in Q2 profits

Financial data aggregator Tracxn has improved its QoQ net profits by 3X after posting a net profit of Rs 2.16 crore for the quarter ended September 30, 2023.

Tracxn's total revenue stood at Rs 22.48 crore, after rising 8.2% from previous quarter's Rs 20.76 crore. While total expanses contracted marginally to 19.49 crores, as per the company's financial statement filed with the National Stock Exchange.

Employee costs account for 88% of their total expenses at Rs 17.1 crore for 783 employees.

"Headcount had increased last year due to growth initiatives, and subsequently has been optimised due to automation and efficiency initiatives," The company said in a statement to investors.

Its EBITDA for Q2 FY24 reached Rs 2 crore, with an EBITDA margin of 9.5%, including non-cash expenses such as ESOP. This marks their highest quarterly EBITDA and EBITDA margin to date.

As per a statement to investors, the company plans to invest in growth initiatives spanning marketing, sales and account expansion. The company says it received approximately 9 million on its website through organic search traffic In H1 FY24 alone this was 8.7 million.

"We believe as the markets open up further, we should see more acceleration than previously in new customer acquisition as well as customer expansion" The statement said.

The company says 66% of its revenues came from international clients from more than 50 countries.

Tracxn is a private market data intelligence platform that provides comprehensive, up-to-date data on over 2.3 million private companies across sectors and geographies. Founded in 2012 by Abhishek Goyal and Neha Singh, Tracxn's SaaS-based platform provides insights into private company funding, financials, key people, competitors, and market trends.

In October 2022, Tracxn became a publicly listed company on the BSE and NSE.