Birlasoft, a leading IT services provider, announced its financial results for the quarter ended June 30, 2024.
Key financial highlights
- Revenue: Increased by 5.12% QoQ to Rs 1,327.43 crore.
- EBITDA: Grew by 1% QoQ to Rs 195.1 crore.
- Net profit: Declined by 16.59% QoQ to Rs 150.20 crore.
Challenges and opportunities
- The company faced a challenging operating environment with tightened discretionary spending from customers.
- However, Birlasoft's Infra and ROW businesses performed well, driven by enhanced capabilities and expanded footprint.
- The company signed deals worth $160 million during the quarter, including new wins and renewals.
Strong financial position
- Birlasoft maintained a strong financial position, with cash and cash equivalents increasing to $229.7 million.
- The company's DSO improved sequentially to 52 days, remaining among the best in the industry.
Despite the decline in net profit, Birlasoft's overall financial performance was relatively stable. The company's focus on growth areas and strong financial position suggest potential for future improvement. Investors considering share market investment in Birlasoft should carefully consider the company's financial performance, industry trends, and future growth prospects before making any investment decisions.
Outlook and future plans
- Birlasoft remains optimistic about its growth prospects and is committed to investing in capabilities for future growth.
- The company's focus on digital and information technology services positions it well to capitalise on emerging opportunities.
