{"id":27286,"date":"2024-02-14T08:57:49","date_gmt":"2024-02-14T03:27:49","guid":{"rendered":"https:\/\/dailynewsindia.co.in\/index.php\/2024\/02\/14\/spacenet-reports-486-surge-on-pat-year-on-year-basis\/"},"modified":"2024-02-14T08:57:49","modified_gmt":"2024-02-14T03:27:49","slug":"spacenet-reports-486-surge-on-pat-year-on-year-basis","status":"publish","type":"post","link":"https:\/\/dailynewsindia.co.in\/index.php\/2024\/02\/14\/spacenet-reports-486-surge-on-pat-year-on-year-basis\/","title":{"rendered":"Spacenet reports 486% surge on PAT year-on-year basis"},"content":{"rendered":"<div>\n<p><strong>Hyderabad (Andhra Pradesh) [India], February 14:<\/strong> Hyderabad based <a href=\"https:\/\/www.spacenetent.com\/\" target=\"_blank\" rel=\"noopener\">Spacenet Enterprises India<\/a> Limited (NSE: SPCENET), a prominent global trading entity with substantial operations in Hong Kong and Dubai, has reported an exceptional 486% increase in its consolidated profit after tax (PAT) on an annual basis.<\/p>\n<p>This significant growth highlights Spacenet\u2019s focused strategy on diversifying its investment portfolio by incorporating stakes in pioneering, disruptive technology enterprises.<\/p>\n<p>Among its key investments are Billmart.com, a fintech innovator offering state-of-the-art financial technology solutions, Pathfinder, a leading generative AI company, and String Metaverse Limited, a forefront runner in the Web 3.0 gaming industry.<\/p>\n<p>In a strategic initiative to strengthen its foothold in the fintech domain, Spacenet announced plans to escalate its investment in Billmart.com, a Mumbai-based fintech start up, demonstrating its commitment to nurturing and scaling innovative technology ventures.<\/p>\n<p>DVS Prakash Rao, Executive Director at Spacenet, articulated the corporation\u2019s mission stating, \u201cOur objective at Spacenet is to continuously identify and invest in ground breaking, new-age companies, and thereby consistently amplifying value for our shareholders.\u201d This approach underscores Spacenet\u2019s dedication to spearheading the adoption of disruptive technologies and fostering growth in the evolving digital landscape.<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hyderabad (Andhra Pradesh) [India], February 14: Hyderabad based Spacenet Enterprises India Limited (NSE: SPCENET), a prominent global trading entity with substantial operations in Hong Kong and Dubai, has reported an exceptional 486% increase in its consolidated profit after tax (PAT) on an annual basis. This significant growth highlights Spacenet\u2019s focused strategy on diversifying its investment&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/dailynewsindia.co.in\/index.php\/2024\/02\/14\/spacenet-reports-486-surge-on-pat-year-on-year-basis\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;Spacenet reports 486% surge on PAT year-on-year basis&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":27287,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[638],"tags":[641],"class_list":["post-27286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-finance"],"_links":{"self":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/27286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/comments?post=27286"}],"version-history":[{"count":0,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/27286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media\/27287"}],"wp:attachment":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media?parent=27286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/categories?post=27286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/tags?post=27286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}