Protean eGov Technologies Ltd, a pioneer in building Digital Public Infrastructure in India, has reported consolidated revenue from operations of Rs 2.11 billion for the quarter ended 30 June 2025 (Q1FY26), compared to Rs 1.97 billion in the same period last year. This growth was primarily driven by continued momentum in CRA, tax, and identity services.

EBITDA for the quarter stood at Rs 450 million, up from Rs 340 million in Q1FY25, with the EBITDA margin improving by 284 basis points year-on-year to 18.8 per cent. Profit after tax rose to Rs 240 million, compared to Rs 210 million in the corresponding period last year, resulting in a PAT margin of 10.0 per cent. The company ended the quarter with a strong balance sheet, holding over Rs 8 billion in cash equivalents and marketable securities and maintaining zero debt.

Protean’s tax services segment gained approximately 80 basis points in market share, rising from 58.2 per cent in Q4FY25 to 59.0 per cent in Q1FY26. The company issued nearly 10 million PAN cards during the quarter. CRA services delivered 16 per cent year-on-year revenue growth, with 3.24 million new subscribers onboarded, accounting for a significant 98 per cent share of all new subscriber additions. More than 753 corporates were also onboarded, and the company retained a 97 per cent market share across NPS, APY, and UPS schemes.

In identity services, volume growth remained strong across most ID products, although revenue was affected by slab-based pricing and pressure at the foundational pricing level. Despite this, the company remains optimistic about the segment’s future, supported by the broader momentum of the Digital India initiative. Value-added offerings such as eSignPro and RISE with Protean, which are built on the company’s core identity infrastructure, are expected to benefit from this ongoing shift.

Furthering its commitment to financial inclusion, Protean signed a Statement of Intent with NITI Aayog to support the implementation of social security schemes like the Atal Pension Yojana across 64 Aspirational Districts in India. The company is also expanding its presence in Open Digital Ecosystems (ODEs), focusing on sectors such as e-commerce, mobility (ONDC), health, agriculture, education, and sustainability. As of 30 June 2025, the company had a healthy project pipeline with an order book exceeding Rs 3 billion.

A major milestone during the quarter was winning a Rs 1 billion mandate from the Bima Sugam India Federation to develop a nationwide digital platform for insurance products and services. This initiative, part of a first-of-its-kind Insurance Digital Public Infrastructure (DPI), aims to establish a unified, national-scale insurance marketplace.

Protean also received recognition at the ET Brand Equity Brand Disruption Awards 2025, securing a Silver Award for Best Celebrity Endorsement for its 'Impacting Everyone, Everyday' campaign and a Bronze Award for Best Communication, affirming its leadership position in the Digital Public Infrastructure domain.