Birlasoft's net profit jumps 18.2% to Rs 114 crore in December quarter

Birlasoft, part of the USD 2.4-billion diversified C K Birla Group, on Thursday reported an 18.2 per cent jump in consolidated net profit to Rs 114 crore for the December 2021 quarter.

The IT services company had posted a profit of Rs 96.4 crore in the October-December 2020 period, Birlasoft said in a regulatory filing.

Revenue from operations in the December 2021 quarter grew 21.7 per cent to Rs 1,071.9 crore as compared with Rs 880.8 crore in the year-ago quarter, it added.

With strong deal wins across focus industries and a robust pipeline, Birlasoft continues to be optimistic about its growth numbers for this fiscal, Birlasoft CEO and Managing Director Dharmender Kapoor said.

"Our concerted long-term strategy, combined with robust execution, continues to propel growth momentum from our top customers," he added.

This quarter, the company has seen a healthy increase in the year-on-year revenues of business and technology transformation services, which went up by 31 per cent and cloud, and base services by 29.2 per cent, Kapoor said.

"These numbers are a testament of the tangible value that we are providing to our customers through our transformational solutions on complex and niche technologies, industry expertise and strong partnerships," he noted.

Kapoor added that the company is well poised for growth in the upcoming quarters and is aligned with its billion-dollar vision.

The company signed deals worth USD 182 million in total contract value (TCV) during the quarter. Its active client count stood at 285.

In dollar terms, the company's net profit grew 16.6 per cent to USD 15.2 million, while revenue jumped 20.1 per cent to USD 143.3 million in the December 2021 quarter from the year-ago period.

Birlasoft's headcount stood at 11,945 at the end of December 2021, with the addition of 1,546 professionals on a y-o-y basis.

The attrition rate was 31.4 per cent in the December 2021 quarter, up from 24.2 per cent in the second quarter and 10.9 per cent in the December 2020 quarter.