String Metaverse Displays Strong Q1 Financials; Poised for Web 3.0 Revolution

String Metaverse LTD, post-merger with Bio Green Papers Limited, reports impressive financial results, securing Rs 50.02 crore revenue and Rs 5.38 crore PAT in Q1 FY 2025. Supported by Spacenet Enterprises and 63 Moons Technologies, it aims to be the first Web 3.0 enterprise on the BSE main board.

NEW DELHI [India], August 16: String Metaverse LTD, in the aftermath of its merger with Bio Green Papers Limited (BSE: 534535), has reported robust financial performance for the first quarter of FY 2025. According to the Honourable National Company Law Tribunal's (NCLT) scheme of arrangement under the Insolvency and Bankruptcy Code (IBC), the company posted a consolidated revenue of Rs 50.02 crores and a profit after tax (PAT) of Rs 5.38 crores.

Supported by Spacenet Enterprises LTD (NSE: SPCENET) and 63 Moons Technologies Ltd (NSE: 63MOONS) subsidiary 3.0 VERSE Ltd., String Metaverse is set to become the first Web 3.0 enterprise to trade on the BSE main board. The company operates global offices in Gift City, Hyderabad, UAE, and Hong Kong.

The merger has bolstered String Metaverse's position, reflected in the consolidated revenue of Rs 151.21 crores and a PAT of Rs 10.82 crores for FY 2024, underscoring the growth potential of the combined entity. As the Web evolves, Web 3.0 empowers decentralization, rewarding user engagement in the Attention Economy. With disruptive technologies expected to surge in market cap, String Metaverse anticipates a CAGR of 100% over the next three years, according to Founder Krishna Mohan Meenavalli.

(With inputs from agencies.)