Aeries Technology Inc. Reports 3% Revenue Decline to $70.2 Million, Swings to Net Loss of $21.6 Million for Fiscal Year Ending March 31, 2025

Reuters
02 Jul
Aeries Technology Inc. Reports 3% Revenue Decline to $70.2 Million, Swings to Net Loss of $21.6 Million for Fiscal Year Ending March 31, 2025

Aeries Technology Inc. has released its annual report for the fiscal year ending March 31, 2025. The company reported a consolidated revenue decrease of $2.3 million, or 3%, to $70.2 million from $72.5 million in the previous year. This decline was primarily attributed to the closure of certain consulting projects and reductions in existing client engagements, which led to a $21.3 million decrease in revenue. However, this was partially offset by a $19.0 million increase from the addition of new clients. The company also reported a net loss of $21.595 million for the year, reversing a net income of $17.256 million recorded in the previous year. The Adjusted EBITDA margin also saw a significant drop to -6.6% from 12.7% in the prior year. Aeries Technology Inc. did not provide specific future guidance in the report.

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