IT Consulting & Software Company Sasken Technologies announced Q4FY23 & FY23 results: Consolidated Q4FY23: Revenues for Q4FY23 at Rs 102.89 crore Down 16.2% sequentially over the previous quarter Down 5.8% YoY from Q4FY22 EBIT for Q4FY23 at Rs 12.39 crore Down 54.7% sequentially over the previous quarter Down 57.8% YoY from Q4FY22 EBIT Margins for the quarter at 12.1% PAT for Q4FY23 at Rs 17.07 crore Down 45.4% sequentially over the previous quarter Down 36.5% YoY from Q4FY22 PAT Margins for the quarter at 16.6% Consolidated FY23: Revenues for FY23 at Rs 446.98 crore Up 3.0% YoY from FY22 EBIT for FY23 at Rs 94.03 crore Down 23.3% YoY from FY22 EBIT Margins for the quarter at 21.0% PAT for FY23 at Rs 99.47 crore Down 22.4% YoY from FY22 PAT Margins for the year 22.3% "In FY23, we have made strategic investments in people and technologies, which has positioned us for long-term growth. As we work through our reimagined strategy, we remain committed to driving growth and profitability while staying true to our values of integrity and excellence. We will continue to invest for future and long term despite some short-term pains " said Rajiv C Mody, Sasken’s Chairman & MD. Speaking on the company's performance Abhijit Kabra, Sasken's CEO said, " Capitalizing on our strength in product engineering and innovative solutions, we have made strategic investments in the past year to reinvent our cost competitiveness, expand addressable market and deliver long-term RoI for our customers. Despite headwinds, we are committed to continue with these investments, which we are confident, will show significant results in coming quarters.” Result PDF
IT consulting & software firm Sasken Technologies announced Q3FY23 results: Consolidated Q3FY23: Revenues for Q3FY23 at Rs 122.77 crore Up 2.3% sequentially over the previous quarter. Up 15.5% YoY from Q3FY22. EBIT for Q3FY23 at Rs 27.37 crore Down 3.5% sequentially over the previous quarter Down 8.3% YoY from Q3FY22 EBIT Margins for the quarter at 22.2% PAT for Q3FY23 at Rs 31.26 crore Down 13% sequentially over the previous quarter Up 3.9% YoY from Q3FY22 PAT Margins for the quarter at 25.4% EPS was at Rs 20.79 for the quarter. We continue to invest in people and emerging technologies to maintain our position as the best-in-class engineering company. We have also augmented our leadership in this quarter and strengthened our front-end capabilities. These efforts, as mentioned previously and evident from the results of this quarter, have marginally dented our profitability. We expect the margins to be suppressed for some time as we continue to make investments in growing the business globally. Notwithstanding the current macroeconomic recessionary headwinds, we are confident of turning around this situation through our deep technical expertise and longstanding client relationships, said Rajiv C Mody, Chairperson and Managing Director of Sasken Result PDF
IT & Consulting company Sasken Technologies announced Q2FY23 results: H1FY23: Consolidated Revenues for H1 FY 23 at Rs 221.33 Crore. Up 1.3 % YoY from H1 FY 22 Consolidated EBIT for H1 FY 23 at Rs 54.27 Crore Down 14.3 % YoY from H1 FY 22 Consolidated PAT for H1 FY 23 at $ 51.15 Crore Down 28.2 % YoY from H1 FY 22 PAT Margins for H1 at 23.1 % Q2 FY 23: Consolidated Revenues for Q2 FY 23 at Rs 120.01 Crore Up 18.4 % sequentially over the previous quarter Up 10.5 % YoY from Q2 FY 22 Consolidated EBIT for Q2 FY 23 at Rs 28.37 Crore Up 9.5 % sequentially over the previous quarter Down 13.1 % YoY from Q2 FY 22 EBIT Margins for the quarter at 23.7 % Consolidated PAT for Q2 FY 23 at Rs 35.92 Crore Up 135.8% sequentially over the previous quarter Down 3.7 % YoY from Q2 FY 22 PAT Margins for the quarter at 30.0 % Result PDF
IT Consulting & Software firm Sasken Technologies Announced Q1FY23 Result : Consolidated Revenues for Q1 FY 23 at Rs 101.32 Crore Down 7.2 % sequentially over the previous quarter Down 7.7 % YoY from Q1 FY 22 Consolidated EBIT for Q1 FY 23 at Rs 25.90 Crore Down 11.8 % sequentially over the previous quarter Down 15.7 % YoY from Q1 FY 22 EBIT Margins for the quarter at 25.5 % Consolidated PAT for Q1 FY 23 at Rs 15.23 Crore Down 43.3 % sequentially over the previous quarter Down 55.2 % YoY from Q1 FY 22 PAT Margins for the quarter at 15 % This quarter has been soft on all fronts. The degrowth in revenue is due to headwinds we faced in one of our business lines. While a part of the decline was offset by the growth in other business lines, we were not able to mitigate the impact of a sudden reduction in business. We are making all efforts to return to growth in the coming quarters. We have a large number of Graduate Trainees being onboarded in the next few months which will help better manage our supply side needs. On the demand side, we continue to build our deal pipeline and sharpen our focus on strategic deals that are long term, scalable and profitable, said Rajiv C Mody, Chairman, Managing Director, and CEO of Sasken. Result PDF
Sasken Technologies reported fall of 7.6% YoY in profits in Q4FY22 Sasken Technologies announced Q4FY22 results: Q4FY22: Consolidated Revenues for Q4FY22 at Rs109.18 Crore Up 2.7 % sequentially over the previous quarter Down 1.3 % YoY from Q4 FY 21 Consolidated EBIT for Q4 FY 22 at Rs 29.36 Crore Down 1.6 % sequentially over the previous quarter Down 13.2 % YoY from Q4FY21 EBIT Margins for the quarter at 26.9% Consolidated PAT for Q4FY22 at Rs 26.88 Crore Down 10.6 % sequentially over the previous quarter Down 7.6 % YoY from Q4 FY 21 PAT Margins for the quarter at 24.6% FY22: Consolidated Revenues for FY22 at Rs 433.91 Crore Down 2.5 % YoY from FY21 Consolidated EBIT for FY 22 at Rs 122.56 Crore Up 1.8 % YoY from F 21 EBIT Margins for the at 28.2 % Consolidated PAT for FY 22 at Rs 128.25 Crore Up 12.0 % YoY from FY21 PAT Margins for the year 29.5% Result PDF
IT Consulting & Software company Sasken Technologies declares Q3FY22 result: Consolidated Revenues for Q3 FY 22 at Rs 106.27 Crore Down 2.2 % sequentially over the previous quarter Down 6.7 % YoY from Q3 FY 21 Consolidated EBIT for Q3 FY 22 at Rs 29.85 Crore Down 8.6 % sequentially over the previous quarter Down 8.7 % YoY from Q3 FY 21 EBIT Margins for the quarter at 28.0 % Consolidated PAT for Q3 FY 22 at Rs 30.07 Crore Down 19.3 % sequentially over the previous quarter Down 11.3 % YoY from Q3 FY 21 PAT Margins for the quarter at 28.2 % Revenue contribution from the Top 5 customers stood at 45.0 % and from the Top 10 customers at 65.0 Added 3 new customers during the quarter, taking the total number of active customers to 66. Consolidated EPS was at Rs 20.00 for the quarter. We continue to be focused on our business transformation agenda and is mindful that such efforts take time to give dividends. The minor reduction in our revenue is in large part the consequence of our focusing on a better quality of customer engagements that are both scalable and long term. We continue to remain cautiously optimistic that the current upsurge in covid positivity will eventually decline. As a company that cares for all its stakeholders, we are doing our best to take care of our employees’ wellbeing and serve our customers without any disruption, said Rajiv C Mody, Chairman, Managing Director, and CEO of Sasken. Result PDF