String Metaverse (Bio Green Papers, BSE: 534535) Reports Q1 FY25: Rs 50.02 Cr Revenue, Rs 5.38 Cr PAT

String Metaverse (Bio Green Papers, BSE: 534535) Reports Q1 FY25: Rs 50.02 Cr Revenue, Rs 5.38 Cr PAT

String Metaverse LTD, following its merger with Bio Green Papers Limited (BSE: 534535) as approved by the Honourable National Company Law Tribunal (NCLT) under the scheme of arrangement of the Insolvency and Bankruptcy Code (IBC), has reported robust financial results for the first quarter of FY 2025. The company achieved consolidated revenue of Rs 50.02 crores and a profit after tax (PAT) of Rs 5.38 crores.

Backed by Spacenet Enterprises LTD (NSE: SPCENET) and 63 Moons Technologies Ltd (NSE: 63MOONS) step down subsidiary 3.0 VERSE Ltd. investments, String Metaverse will be the first Web 3.0 enterprise to start trading on BSE main board.

String Metaverse has global offices in Gift City, Hyderabad, UAE and HK.

The merger has strengthened the company’s position, leading to a consolidated revenue of Rs 151.21 crores and a PAT of Rs 10.82 crores for FY 2024, highlighting the successful integration and growth potential of the combined entity.

The Evolution Web 3.0

Web 1.0: Primarily focused on email and messaging, laying the foundation for digital communication.

Web 2.0: Marked by centralized social communities such as Instagram, Facebook, and WeChat, where monetization is predominantly controlled by large corporations like Meta, Microsoft, and Google.

Web 3.0: Digital communities are created for the people and by the people, enabling users to share, create, and transact within decentralized communities.

“In this new age of the Attention Economy, individuals are rewarded for the time they spend engaging online, transforming their attention and time into digital assets”

“New technological innovations are set to dominate global equity market caps. Disruptive technologies such as Web 3.0’s ‘Public Blockchains,’ Energy Storage, Artificial Intelligence, and Robotics currently have a combined market cap of approximately USD 19 trillion. This is expected to grow to USD 220 trillion by 2030, in contrast to non-innovative companies, whose combined market cap is projected to grow from USD 98 trillion to USD 140 trillion” according to a research report by ARK Investment.

“With Web 3.0 and Next-Generation technologies growing at an unprecedented pace, we are confident of achieving a CAGR of 100 per cent growth for the next 3 years,” stated Krishna Mohan Meenavalli, Founder of String Metaverse Ltd.

Spacenet announces a staggering 330% surge in YOY net profit

Spacenet announces a staggering 330% surge in YOY net profit

Spacenet Enterprises India Limited (NSE: SPCENET), a notable global tradetech company with operations in India and Hong Kong , has announced an impressive 330% increase in net profit for the financial year 2023-24. This substantial growth underscores the company’s successful strategic initiatives and robust operational performance.

Spacenet core business activity is into the trading of agricultural and non-agricultural commodities, Spacenet has diversified its portfolio by actively building, investing in, and supporting innovative technology companies. This dual focus not only enhances its core trading business but also positions it at the forefront of technological advancements.

Till date, Spacenet has made strategic investments in several promising companies, including Billmart Fintech Pvt Ltd, String Metaverse Ltd, and Thalassa Enterprises Ltd.

Billmart Fintech Pvt Ltd, headquartered in Mumbai, is a pioneering fintech enterprise dedicated to empowering Micro, Small, and Medium Enterprises (MSMEs) and corporates through digital bill discounting solutions. Billmart seamlessly connects these businesses with lenders, offering a blend of traditional financial services and cutting-edge financial products. This integration fosters a robust financial ecosystem that facilitates smoother transactions and improved liquidity for MSMEs.

String Metaverse Ltd is a trailblazing Web 3.0 GameFi startup and fintech platform. It enables business partners to provide a range of online gaming services, including Play-to-Earn and Free-2-Play models. These innovative platforms offer rewarding games (Real Money Games) that incentivize transactions across multiple sectors such as retail, e-commerce, and food and beverages. By merging gaming with fintech, String Metaverse Ltd is revolutionizing how businesses engage with consumers, creating new revenue streams and enhancing customer loyalty.

These strategic investments are crucial to Spacenet’s vision of sustained growth, continuous innovation, and value creation for all stakeholders. The significant increase in net profit is a clear indicator of the company’s effective business strategies and operational efficiency.

“Our remarkable net profit growth is a testament to our team’s dedication and strategic execution,” stated Prakash Dasigi, Executive Director of Spacenet. “We remain committed to delivering value to our shareholders and customers through continued innovation and operational excellence. Our focus on integrating advanced technology solutions with our core trading activities ensures we stay ahead in the rapidly evolving market landscape.”

With a solid foundation in tradetech and a keen eye on future technological trends, Spacenet Enterprises India Limited is well-positioned to continue its trajectory of impressive growth and innovation.