Updater Services reports growth alongside subsidiary irregularity investigation

For the half year ended September 30, 2025, Updater Services Limited reported a consolidated total income of INR 14,401.62 million, an increase from INR 13,455.69 million in the corresponding period of the previous year. Consolidated profit after tax also rose to INR 487.94 million from INR 536.38 million. The company's standalone results showed total income of INR 8,580.28 million and profit after tax of INR 309.27 million for the same half year.

The company is currently investigating alleged irregularities in its subsidiary, Avon Solutions & Logistics Private Limited, concerning transactions of sales to certain customers and services procured from vendors. As a result, a provision for doubtful recovery of INR 30 million has been recorded against trade receivables. Management is unable to determine the full impact of this matter on the unaudited consolidated financial results pending the completion of the investigation.

The board of directors approved the unaudited standalone and consolidated financial results on November 5, 2025. The results will be published in newspapers and made available on the company’s website. During the previous fiscal year, Updater Services completed an initial public offer, utilizing most of the proceeds, with INR 1.14 million remaining unutilized for general corporate purposes.