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String Metaverse Limited, formerly known as Bio Green Papers Limited, reported no deviation or variation in the utilization of proceeds from its rights issue for the quarter ended June 30, 2026, according to a filing with the BSE Limited. The company, which raised Rs 4925.15 lakh through a rights issue on May 5, 2025, noted that an amount of Rs 300.10 lakh was reallocated from issue-related expenses to general corporate purposes, remaining within the permissible limit outlined in the Letter of Offer.

String Metaverse Ltd share price softened by 4.96% to Rs 6.51. The Company`s net profit saw a marginal increase of 6.37% to Rs 36.92 crore, while revenue from operations slightly gained 9.18% to Rs 392.4 crore in Q2FY26 over Q1FY26. The market capitalization of IT Enabled Services industry group stocks on BSE stood at Rs 2.44 lakh crore, easing 2.81%. It has marginally improved by 1.02% over last one week and climbed by 14.58% in last one month while the market capitalization of String Metaverse Ltd has improved by 4.66% and 29.76% in the same period respectively. Profit before tax (PBT) of String Metaverse Ltd stood at Rs 36.9 crore in Q2 FY26, rallying 100.76% year-on-year, and gaining 4.03% quarter-on-quarter. EBITDA came in at Rs 44 crore, expanding by 104.67% YoY and surging by 46.36% sequentially. Total expenses saw a slight increase of 7.81% to Rs 355.4 crore in Q2FY26 over Q2FY25. During the quarter, employee benefits expense was at Rs 1.4 crore, collapsing by 48.15% YoY. For the TTM ended FY26, revenue from operations witnessed a strong growth of 169.40% to Rs 407.36 crore, while net profit soared by 225.79% to Rs 35.25 crore, compared to previous TTM. EBITDA jumped by 1558% to Rs 40.39 crore, and PBT soared 226.62% to Rs 35.34 crore compared to previous TTM. The company`s consolidated net cash flow from operating activities stood at Rs 49.33 crore in FY26, as against Rs 1.24 crore in FY25. String Metaverse Ltd crashed 68.26% in last one year, underperforming the benchmark BSE Sensex which has eased by 2.56% during the same period.

String Metaverse will hold a meeting of the Board of Directors of the Company on 11 August 2026.

String Metaverse announced that Ghanshyam Dass (DIN: 01807011), Chairman & Non-Executive Non Independent Director of the Company, has tendered his resignation from the Board of Directors of the Company with effect from 28 May 2026.

Net profit of String Metaverse rose 176.39% to Rs 35.24 crore in the quarter ended March 2026 as against Rs 12.75 crore during the previous quarter ended March 2025. Sales rose 133.60% to Rs 359.40 crore in the quarter ended March 2026 as against Rs 153.85 crore during the previous quarter ended March 2025.For the full year,net profit rose 192.05% to Rs 102.48 crore in the year ended March 2026 as against Rs 35.09 crore during the previous year ended March 2025. Sales rose 162.45% to Rs 1069.11 crore in the year ended March 2026 as against Rs 407.36 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales359.40153.85 134 1069.11407.36 162 OPM %10.0110.07 -10.7010.12 - PBDT41.6815.71 165 121.5742.08 189 PBT35.4713.01 173 103.5135.34 193 NP35.2412.75 176 102.4835.09 192 Powered by Capital Market - Live News