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MPS hosted a conference call on July 28,2022. In the conference call the company was represented by Mr Rahul Arora-CMD, and Mr Sunil Malhotra-CFO.
Key takeaways of the call
Revenues of the company adjusted for Forex gain loss stood at Rs 114.04 cr in Q1FY2023 as against Rs 117.91 cr down 3.3%. Decline in revenues was due to movement of large K12 project of content business to later part of the year; delay in delivery of a e-learning project from Switzerland facility, which is likely to pick up in Q2FY2023, but majority to come in H2FY2023 and decline in Highwire business which is likely to be soft remaining part of FY2023.
Content business made a soft start for FY2023 due to log sided nature of education business.
However, scholarly business outperformed and is expected to perform in a sustainable way. Revenues from Journal business grew by 15% in Q1FY2023 YoY and operating profit grew by 47% YoY, while scholarly books revenue grew by 8% YoY in Q1FY2023 while...
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