Birlasoft Q4 net profit rises 4.5 pc to Rs 69 cr

IT firm Birlasoft on Wednesday reported a 4.5 per cent rise in consolidated net profit to Rs 69 crore for the March 2020 quarter.

The company had posted a profit of Rs 66.1 crore in the year-ago period, Birlasoft said in a regulatory filing.

Its revenue from operations grew 15.1 per cent to Rs 907.1 crore in the period under review, from Rs 788.3 crore in March 2019 quarter.

In dollar terms, net profit grew marginally to USD 9.6 million, while revenue from operations was up 11 per cent to USD 125.6 million.

For the full fiscal 2019-20, its net profit declined 9.7 per cent to Rs 224.3 crore, while revenue fell 0.4 per cent to Rs 3,291 crore from the previous financial year.

In 2018, Birlasoft and KPIT Technologies 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.

"2019-20, being our first year of operations as new Birlasoft, makes me look back with great satisfaction. We have achieved industry-leading growth over the past two quarters and are closing the year strong, even in the midst of the turmoil of COVID-19," Birlasoft CEO and Managing Director Dharmender Kapoor said.

The board recommended a final dividend of Re 1 per share, and the total dividend for 2019-20 is at Rs 2 a share.

The company said it signed TCV (total contract value) deals of USD 669 million during the year. Of this, USD 433 million was for new business, and the remaining USD 236 million was renewals.

Birlasoft's headcount stood at 10,268 at the end of March 2020 with attrition (last 12 months basis) at 18.9 per cent.