IRIS Business Services Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
IRIS · price
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Awaiting price reaction for this filing.
IRIS Business Services reported Q1 FY26 consolidated revenue of Rs. 2,985.89 lakhs, up about 8% from Rs. 2,764.77 lakhs a year ago, but net profit collapsed to just Rs. 22.43 lakhs from Rs. 288.45 lakhs in the same quarter last year — a roughly 92% drop. Standalone profit fell even more sharply to Rs. 3.27 lakhs from Rs. 266.24 lakhs. The RegTech segment swung to a loss of Rs. 279 lakhs from a profit of Rs. 175 lakhs, while TaxTech losses widened. The auditor flagged a going concern issue at the US subsidiary IRIS Business Services LLC, whose liabilities exceed assets by Rs. 59.03 lakhs, though parent support is being provided. The board also approved the appointment of Mr. Vineet Kandoi as CFO from August 14, 2025, and scheduled the 25th AGM for September 23, 2025. Shareholders had already approved the Rs. 15,124 lakh sale of the GST ASP business and IRIS Logix stake to Sovos Compliance UK on July 26, 2025.
Sharp fall in profitability despite modest revenue growth is a negative signal for the stock, but the Rs. 151+ crore divestiture to Sovos is a major cash event that could significantly boost the balance sheet once completed. Investors should watch for closure of the Sovos deal and recovery in the RegTech segment.