Datamatics slips after Q3 PAT drops 10% YoY to Rs 41 cr

Datamatics Global Services (DGSL) declined 4.96% to Rs 679.90 after the company's consolidated net profit fell 10% to Rs 41.30 crore in Q3 FY24 as against Rs 45.87 crore recorded in Q3 FY23.

Revenue from operations fell marginally to Rs 369.30 crore in Q3 FY24 as comapared to Rs 372.64 crore recorded in corresponding quarter last year.

Profit before tax stood at Rs 53.76 crore in Q3 FY24, down 10.8% YoY as compared to Rs 60.24 crore posted in Q3 FY23.

EBITDA declined 10.7% to Rs 52.6 crore in Q3 FY23 from Rs 59 crore posted in Q3 FY22. EBITDA margin contracted by 157 basis points YoY to 14.3% in the quarter ended 31 December 2023.

Rahul Kanodia, vice chairman and CEO, said, "During the traditionally soft quarter for Datamatics, our Q3 revenues decreased by 0.9% compared to the same period last year. This was mainly due to the slow decision-making of large deals in Western markets. Nevertheless, we continue to add new customers at a steady rate.

He further added, "We are happy to be in Forbes Asia 200 Best Under A Billion Companies prestigious list. The list comprises the top 1% of 20,000 listed companies in Asia. It is recognition of our outstanding corporate performance over the years. I take this opportunity to thank all our stakeholders, including employees, customers, and shareholders, for being an integral part of the journey."

DGSL provides solutions for data driven businesses to enhance their productivity and customer experience. The company's services can be bifurcated into three segmentsdigital operations, digital experience and digital technology. The company has also developed products in robotics process automation, advanced analytics, business intelligence, and automated fare collection.

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