Magellanic Cloud stock declines despite reporting 6.5% revenue growth  

Magellanic Cloud Ltd stock closed at $75.41 on Friday, down 0.99 points (-1.30 per cent), despite the company reporting positive annual financial results for FY24-25.

The technology enterprise announced a 6.57 per cent year-on-year revenue increase to ₹597.23 crore, up from ₹560 crore in FY24. EBITA grew 4.22 per cent to ₹209.67 crore, with an improved margin of 35.11 per cent. The company posted a profit after tax of ₹102.73 crore, representing a 17.20 per cent PAT margin.

Among key developments, Magellanic Cloud’s subsidiary, Motivity Labs, secured a $6-million contract for IT services and digital transformation solutions. The company also continued global expansion of its Scanalitix video management and analytics platform across markets, including the US, Canada, Oman, and Dubai.

FY24-25 marked the company’s successful debut on the National Stock Exchange (NSE), a milestone the company says enhanced its visibility and investor confidence.

Magellanic Cloud operates in drone technologies, AI-powered video analytics and IT solutions, with over 1,600 professionals, serving more than 600 clients, including Fortune 1,000 companies. According to Global CEO Joseph Sudheer Reddy, the year was “transformative” for the company, demonstrating “the scalability and resilience” of its business model.

Published on May 16, 2025