Birlasoft Q2 PAT down 9% QoQ to Rs 103 crore

Birlasoft reported 9.2% fall in consolidated net profit to Rs 103.1 crore on a 7% rise in revenue from operations to Rs 1,011.7 crore in Q2 FY22 over Q1 FY22.

EBITDA remained flat at Rs 151.8 crore in Q2 FY22 as against 151.1 crore in Q1 FY22. EBITDA margin was 15% as on 30 September 2021 as compared with 16% as on 30 June 2021.

Profit before tax in Q2 FY22 stood at Rs 138.2 crore, down by 8.6% from Rs 151.2 crore in Q1 FY22.

In dollar terms, the company's revenue in the second quarter was $182.32 million (up 6.7% QoQ and up 18.4% YoY).

Birlasoft's net profit and revenue has risen by 49.2% and 18%, respectively, in Q2 FY22 as compared with Q2 FY21.

The company signed deals of TCV $140 million during the quarter. Of this, TCV of new deal wins was $104 million in Q2 FY22.

The company added 2 clients in the $10 million category during the quarter and accordingly, active client count stood at 280.

The company's headcount at the end of the September 2021 quarter was 12,065 people.

The LTM attrition rate was 24.2% in Q2 FY22 as against 16.5% in Q1 FY22 and 11.4% in Q2 FY21.

Dharmender Kapoor, chief executive officer and managing director, Birlasoft, said, With a surge in market demand, we are witnessing an increased momentum in our net new deals. Our top customers have grown over 20% YoY, reaffirming our positioning of being their trusted and preferred digital transformation partner.

Continued focus and sustained investments in building differentiated cloud and digital capabilities are resulting in significant growth in these areas. This quarter, we have seen a broad-based growth and traction across all our industry verticals and service lines, and we believe this will continue to grow in the ensuing quarters.

Birlasoft provides digital and information technology consulting, services, solutions and products for organizations across industries, worldwide.

The scrip advanced 1.61% to currently trade at Rs 406.90 on the BSE.

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