Birlasoft Q3 net profit jumps 76.7% to Rs 72.7 cr

Birlasoft, a part of the USD 2 billion diversified C K Birla Group, on Friday reported a 76.7 per cent jump in consolidated net profit to Rs 72.7 crore for the December quarter.

The company had posted a profit of Rs 41.1 crore in the year-ago period, Birlasoft said in a regulatory filing.

Its revenue from operations rose marginally to Rs 833.3 crore in the period under review from Rs 826.9 crore in December 2018.

In dollar terms, net profit grew 77.1 per cent to USD 10.2 million, while revenue from operations was up 1 per cent to USD 116.8 million.

In 2018, Birlasoft and KPIT Technologies had announced that they will merge and then split into two publicly-traded companies to create two specialised IT players.

After the demerger, the engineering business was re-listed on the BSE as KPIT Technologies, while Birlasoft was now positioned as an enterprise digital and IT services company.

"Our laying of the foundation for growth in the last one year has borne fruits, reflected in our Q3 performance which witnessed healthy growth in revenue, margin and cash flows," Birlasoft CEO and Managing Director Dharmender Kapoor said.

He added that he felt optimistic about improved growth and profitability going forward. Birlasoft's headcount stood at 10,129 at the end of December 2019 with the addition of 135 professionals on a sequential basis.

The attrition (on the basis of last 12 months) was at 20.3 per cent.

The board declared an interim dividend of Re 1 per share.

The number of active clients was 381, and net cash and cash equivalent was at Rs 685.4 million (USD 96.2 million) as of December 31, 2019.