IT Consulting & Software company Birlasoft announced Q1FY24 results: In USD terms: Revenue at USD 153.6 million: Up 3.1% QoQ & up 3.4% YoY In constant currency terms, revenues are up 2.7% QoQ EBITDA at USD 23.5 million; EBITDA margin expands 168 bps QoQ to 15.3% PAT at USD 16.7 million, up 23% QoQ In INR terms: Revenue up 3.0% QoQ during Q1FY24 at Rs 12,628 million EBITDA at Rs 1,931 million; up 15.7% QoQ, EBITDA margin at 15.3% PAT at Rs 1,375 million, up 23% QoQ and 14% YoY, translating to basic EPS (not annualized) of Rs 4.97 Angan Guha, Chief Executive Officer, and Managing Director, Birlasoft, said, “We have delivered a robust operating performance during the quarter on both the revenue and margin fronts. I am pleased to note that our quarterly revenue has crossed the USD 150 million mark for the first time, increasing 3.1% sequentially to USD 153.6 million during Q1FY24. Our growthled performance during the quarter reflects our sharp focus on execution during a period that has been characterised by a high degree of macroeconomic uncertainty. We continue to strengthen our tech capabilities and have been early adopters of new technologies such as Generative AI where we have already developed multiple solutions.” "Our revenue during the quarter under review grew 9.4% year-on-year and 3.0% quarter-on-quarter to Rs 12,628 million, while EBITDA margin expanded about 170 basis points to 15.3%. At the same time, we continued to generate strong cash flows with a quarterly collection of USD 153.7 million during Q1FY24, which is the third instance of quarterly collections crossing the USD 150 million mark in the last five quarters. We continue to prioritise financial discipline and operational efficiency as we navigate through the prevailing uncertain market conditions," said Kamini Shah, Chief Financial Officer, Birlasoft. Result PDF
Conference Call with Birlasoft Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company Birlasoft announced Q4FY23 & FY23 results: Q4FY23: In INR: Revenue was up 3.2% QoQ during Q4FY23 (excluding Invacare revenues recorded in Q3FY23) at Rs 12,264 million EBITDA at Rs 1,670 million; up 5.4% QoQ, EBITDA margin at 13.6% PAT at Rs 1,122 million, translating to basic EPS (not annualized) of Rs 4.07 In USD: Revenue at USD 149.1 million: Up 3.3% QoQ & up 6.4% YoY (after excluding Invacare revenues recorded in preceding periods) In constant currency terms, revenues are up 3.1% QoQ (after excluding revenues recorded in the preceding quarter) EBITDA at USD 20.3 million, EBITDA margin at 13.6%, up 20 bps QoQ PAT at USD 13.6 million FY23: In INR: Revenue at Rs 47,948 million, up 16.1% YoY EBITDA at Rs 6,715 million; EBITDA margin at 14.0% (ex. one-time provision) PAT at Rs 3,316 million, translating to basic EPS of Rs 11.96 In USD: Revenue at USD 594.9 million; up 7.2% YoY In Constant Currency (CC), revenue was up 9.1% YoY EBITDA at USD 84.0 million, EBITDA margin at 14.0% (ex. one-time provision) PAT at USD 41.6 million The Board of Directors recommended a final dividend of Rs 2 per share This follows an interim dividend of Rs 1.50 per share paid out in November 2022 The company had also concluded a share buyback during the year under review amounting to approx. Rs 4,750 million (incl. taxes). Angan Guha, Chief Executive Officer, and Managing Director, Birlasoft, said, “We are pleased to report a strong operating quarter with robust revenue and EBITDA margin performances in continuing business. Deal signings during the quarter at USD 286 million TCV have been the best during the year under review. The solid fundamentals of our business, the investments being made in enhancing our capabilities, and the momentum with which we are entering the new financial year positions us well to meet the challenges of an increasingly uncertain macroeconomic environment and shifts in customer priorities going forward.” "Revenues for the financial year FY'23 have grown 16.1% to Rs 47,948 million, and cash flow from operations was 100% of adjusted EBITDA on the back of sustained focus on collections resulting in best-in-class DSO of 53 days. We have ended the year with a robust balance sheet and believe that a restructured organisation, sharper focus, and disciplined execution should position us well to successfully navigate through the prevalent macroeconomic environment," said Kamini Shah, Chief Financial Officer, Birlasoft. Result PDF