Birlasoft said that its consolidated net profit jumped 11.82% to Rs 180.08 crore in Q4 FY24 as compared with Rs 161.05 crore in Q3 FY24.
Revenue from operations rose 1.46% QoQ to Rs 1,362.54 crore in the quarter ended 31 March 2024.Profit before tax increased 12.43% to Rs 242.21 crore in the quarter ended 31 March 2024 as compared with Rs 215.44 crore in the quarter ended 31 December 2023.
In Q4 FY24, EBITDA stood at Rs 221.7 crore, up 3.4% QoQ and 32.8% YoY. EBITDA margin expanded to 16.3% in Q4 FY24 as against 13.60% in Q4 FY23 and 16% in Q3 FY24.
In dollar terms, the company's revenue was at $161.3 million, registering a growth of 1.9% QoQ and 8.7% YoY.
In constant currency terms, revenues were up by 1.6% QoQ.
The company signed deal of TCV $240 Million during the quarter with TCV new deal wins of $107 M and renewals of $133 Million.
Active Client Count at 259 in Q4FY24 (compared to 272 in Q3FY24 and 288 in Q4FY23), reflecting sustained rationalisation of the tail
Cash and cash equivalents increased to $209.2 million at the end of Q4 FY24 from Rs $203 million in Q3 FY24.
Workforce strength increases to 12,595 as on 31st March 2024, and attrition improves further QoQ to 12.4% during Q4FY24.
On FY basis, the companys net profit jumped 88.12% to Rs 623.76 crore on 10.08% increase in revenue from operations to Rs 5,278.14 crore in FY24 over FY23.
Angan Guha, chief executive officer and managing director, Birlasoft, said, On a constant currency basis, our revenues have grown 9.1% ex Invacare during FY24 and revenues during the fourth quarter are up 1.6% sequentially. While our nearterm outlook is likely to reflect the impact of shifts in customer prioritiesthat affect both transformational and discretionary spends, we continue to invest in our capabilities such as Generative AI where we have been early adopters.
Kamini Shah, chief financial officer (CFO), said, Our revenue during the financial year FY24 grew 12.7%, after excluding Invacare contribution in FY23 revenue, to Rs 52,781 million. This was accompanied by a strong margin performance with EBITDA margin expanding to 15.8%. We are exiting the year with an EBITDA margin of 16.3% during Q4FY24. This has been achieved after absorbing the investments we have been making in our business. Our DSO at 55 days continues to be among the best in the industry. We have ended the year with a robust balance sheet, and we stay sharply focused on disciplined execution and operational efficiency.
Meanwhile, the company has declared the dividend of Rs 4 per share of face value of Rs 2 each for financial year 2023-2024.
Birlasoft, part of the CK Birla Group, provides digital and information technology consulting, services, solutions and products for organizations across industries, worldwide.
The scrip fell 1.85% to Rs 662.15 on the BSE.
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