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IT Consulting & Software company Birlasoft announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
• Revenue:
- Rs 13,625 million, up 1.5% QoQ and up 11.1% YoY
- USD 163.9 million, up 1.6% QoQ and up 10.0% YoY
- In constant currency terms, revenues up 1.6% QoQ
• EBITDA margin at 16.3%, PAT up 11.8% QoQ at Rs 1,801 million
FY24 Financial Highlights:
• Revenue:
- Rs 52,781 million, up 10.1% YoY
- USD 637.2 million, up 7.1% YoY
- In constant currency terms, revenues up 6.7% YoY
• EBITDA margin at 15.8% and PAT up 88.1% at Rs 6,238 million translating to basic EPS of Rs 22.54
Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said, “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. On a constant currency basis, our revenues have grown 9.1% ex Invacare during FY’24 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 priorities that 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, Birlasoft said, "Our revenue during the financial year FY’24 grew 12.7%, after excluding Invacare contribution in FY’23 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 Q4FY’24. 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,"
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