Allsec Technologies slumped 12.74% to Rs 464.05 after the company reported consolidated net loss of Rs 7.97 crore in Q1 FY22 compared with net profit of Rs 6.03 crore in Q1 FY21.
Revenue from operations jumped 12% to Rs 71.49 crore in Q1 FY22 over Q4 FY21. Profit before tax soared 30% to Rs 10.52 crore in Q1 FY22 as against Rs 8.07 crore in Q1 FY21. The Q1 earnings was declared after trading hours yesterday, 19 July 2021.
EBITDA grew 22% to Rs 15.81 crore in Q1 FY22 as against Rs 12.99 crore in Q4 FY21. EBITDA margin improved to 22.1% during the quarter as compared to 20.3% during Q4 March 2021.
In Digital Business Services (DBS), the revenues were lower by 3% Q-o-Q (quarter-on-quarter) at Rs 45.50 crore during the quarter. International business revenue grew higher by 6% Q-o-Q, at Rs 30.30 crore, largely due to returning volumes in the US collections business and addition of new customers. Domestic business revenue lower by 17% Q-o-Q, at Rs 15.20 crore, largely due to volume reduction on account of the second wave of COVID-19.
In Human Resources Operations (HRO), the revenues fell 2% Q-o-Q at Rs 26 crore during the quarter. Domestic business excluding Statutory Compliance reduced 8% Q-o-Q to Rs 14.10 crore largely due to year end revenues in Q4 FY21. Statutory Compliance business grew 5% Q-o-Q to Rs 6 crore during the quarter. International business grew 7% Q-o-Q at Rs 5.90 crore. 25 new customers were added during the quarter with ACV of Rs 1.95 crore. Payslips processed grew 7% Q-o-Q and 31% Y-o-Y (year-on-year) to 28 lakhs in Q1 FY21.
Commenting on the Q1 performance, Suraj Moraje, non-executive director of Allsec Technologies, said: "The company has dealt well with the second COVID-19 wave in India, even while seeing faster customer acquisition in the DBS business and continued robust growth in the HRO business. The management's focus on platformisation and automation will further accelerate this performance in the time to come."
Allsec Technologies has been a pioneer in the HRO and International DBS spaces, and is today the leading payroll services provider in India.
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