Birlasoft KPIT Technologies Merger

IT company Birlasoft on Monday reported a 60.55 per cent increase in consolidated net profit to Rs 180.08 crore during the March quarter. The company had recorded a net profit of Rs 112.16 crore in the year-ago period. The Pune-based company's revenue from operations stood at Rs 1,362.5 crore in the fourth quarter of FY24, up 11.10 per cent from Rs 1,226.3 crore a year earlier. According to a company statement, growth during the March quarter was driven by ERP and infrastructure among service lines and banking, financial services and insurance (BFSI), E&U (Energy and Utilities) and manufacturing among verticals. The revenue was led by manufacturing (Rs 571.02 crore), followed by Life Sciences and Services (Rs 301.49 crore), BFSI (Rs 288.36 crore), and E&U (Rs 201.66 crore). "We are pleased to report a robust operating performance for both the quarter and the full year, delivering revenue growth as well as margin expansion in the face of continued macro uncertainty," Birlasoft .

Pune-based global IT services provider Birlasoft on Thursday reported a year-on-year increase of 14 per cent in net profit at Rs 137.5 crore for the quarter ended June 30, 2023. The company had reported a net profit of Rs 120 crore in the corresponding period last year, Birlasoft said in a regulatory filing. Revenue from operations stood at Rs 1,263 crore, up 9 per cent from Rs 1,154 crore in Q1FY23, the filing said. Sequentially, the company recorded a 23 per cent rise in net profit in the period under review, as compared to Rs 112 crore in the March quarter. "I am pleased to note that our quarterly revenue has crossed the USD 150 million mark for the first time, increasing 3.1 per cent sequentially to USD 153.6 million during Q1FY24," Chief Executive Officer and Managing Director of the company Angan Guha said. Revenue and earnings during the June quarter reflect the receipt of USD 2 million for disengagement of Birlasoft Solutions Inc and Invacare, the company declared. The co

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The two companies underwent a merger and demerger, resulting in the creation of separate and publicly listed entities KPIT Technologies and Birlasoft

Pune-based engineering firm is looking at posting a revenue growth of 18% in the ongoing fiscal

The first entity would focus on digital business IT services, while the other business would focus on automotive engineering and mobility solutions