Hyderabad-based chipmaker Moschip Technologies has said that it has recorded a 4 fold increase in its Profit After Tax (PAT) in the first quarter of this fiscal in comparison to its performance in the same period last fiscal.
“Moschip Technologies continues to focus on Semiconductor/ Embedded design services, Turnkey ASIC solutions, Semiconductor IP (Intellectual Properties) and IoT 4G technology projects which has been giving steady and sustainable growth,” the company said in a statement.
The company’s further added that its recent PAT turned positive more than 2 fold increase when compared to the fourth quarter of FY 20.
Talking about its financial performance this quarter, MosChip added that its revenue witnessed a 43 per cent growth compared to the previous quarter. The company added that its revenues witnessed a 43 per cent growth when compared to the previous quarter.
It further shared that its EBIDTA has been positive for the last 5 quarters, by 271 per cent against the previous quarter.
“On a significant note, we are posting PAT positive after 16 quarters,” it added in a release.
Venkata Simhadri, Managing Director and CEO, MosChip Technologies, said, “Moschip has gone through a significant transformation in the last six quarters and the company is positioned to address the most complex needs of our semiconductor and IoT customers. Moschip is committed to the success of our customers with value-added services, broad expertise and IP accumulated in the last twenty years. I take this opportunity to thank all our employees who continued to work hard through these difficult times and all the shareholders who continued to support us.”
