Primech Holdings Limited Provides Financial Updates and Corporate Highlights For the Six Months Ended September 30, 2024

Core Viewpoint - Primech Holdings Limited is focused on long-term growth through significant investments in technology and market development, particularly in AI-powered cleaning solutions [4]. Financial Highlights - Revenue for the six months ended September 30, 2024, was approximately $36.9 million, reflecting a 5.1% increase from the same period in 2023 [6]. - Gross Profit Margin improved from 16.4% for the six months ended September 30, 2023, to 22.5% for the same period in 2024 [6]. - Sales and marketing expenses rose from approximately $11,000 in the six months ended September 30, 2023, to approximately $1.4 million in the same period in 2024 [6]. - Loss from operations was approximately $0.9 million for the six months ended September 30, 2024, compared to a profit of approximately $0.3 million for the same period in 2023 [6]. - Net loss was approximately $1.3 million for the six months ended September 30, 2024, while net income was approximately $0.2 million for the same period in 2023 [6]. Operational and Corporate Highlights - Primech launched Primech AI, an operating subsidiary focused on robotic-based cleaning solutions, including the development of the HYTRON autonomous toilet cleaning robot [6]. - Primech AI's HYTRON robot features 3D-cleaning and electrolyzed water technology and was showcased at the 2024 CleanEnviro Summit Singapore, generating significant industry interest [6]. - Primech's subsidiary, Primech A & P Pte. Ltd., was nominated as a finalist for The Singapore Apex Corporate Sustainability Awards in the "LowCarbonSG" category, achieving at least a 5% improvement in Scope 1 and 2 carbon emissions over 24 months [6]. Company Overview - Primech Holdings Limited is headquartered in Singapore and provides technology-driven facilities services to both public and private sectors [5]. - The company offers a wide range of services, including advanced facility maintenance, specialized cleaning solutions, and eco-friendly practices integrated with smart technology [5].