DevX (Dev Accelerator Ltd), a coworking space provider headed for an IPO, generated a profit in the fiscal year 2023–24 (FY24). According to DevX’s draft red herring prospectus (DRHP) the firm recorded a net profit of INR 43.7 Lakh in FY24 as opposed to a net loss of INR 12.83 Cr in the previous fiscal year.
A considerable uptick in revenue operations enabled the firm to generate a profit. Operating revenue increased from INR 69.91 Cr in the prior fiscal year to INR 108.08 Cr during the year under review, a 55% increase.
Total income, including other income, was INR 110.73 Cr in FY23 compared to INR 71.36 Cr in FY23.
On September 30, DevX, a listed IT company’s subsidiary, submitted its initial public offering (IPO) documents. Its initial public offering will include.
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