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Majesco’s US arm reports $1 million Q2 loss, revenues up 22%

Majesco, the insurance software services provider said that its US subsidiary Majesco USA has reported a loss of USD 1 million in the corresponding quarter of last fiscal.

The revenue has rose 47.9 percent year on year and 21.8 percent quarter on quarter to USD 28.2 million.

Ketan Mehta, CEO and Co-Founder said that “We are confident current investments will position company to achieve goal of generating annual revenues of USD 200-225 million, and EBITDA margin of 12-14 percent within next three years.”

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