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Birlasoft Q4 Net at Rs 66 cr; names Dharmender Kapoor as CEO

Press Trust of India  |  New Delhi 

Birlasoft, a part of the USD 2 billion diversified C K Birla Group, Friday said its consolidated net profit stood at Rs 66.06 crore for the March 2019 quarter.

Its revenue from operations was at Rs 788.28 crore in the quarter under review, it said in a BSE filing.

Also, Birlasoft said its CEO and Managing Director Anjan Lahiri will be stepping down from his role "owing to a pressing personal situation". Dharmender Kapoor - who is currently the Chief Operating Officer - will succeed Lahiri as the CEO.

Last year, 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 is now positioned as an enterprise digital and IT services company.

The figures for the quarter and year ended March 31, 2019, are not comparable with that of the previous periods on account of the deal, Birlasoft said.

"With the conclusion of the complex merger/de-merger process, Birlasoft has emerged as a leading enterprise digital company, ending the year with USD 475 million in revenues. The integration of the two companies is progressing smoothly," C K Birla Group Joint Chairman and Birlasoft Chairman Amita Birla said.

Birla further said: "We have an enviable customer base ... to which we are focused on cross selling our capabilities to grow our business, even as we acquire new customers as a larger entity".

For the fiscal 2018-19, the consolidated net profit was at Rs 292.1 crore, while revenue from operations was at Rs 2,550.6 crore.

"In our first quarter as the new Birlasoft, we are setting ourselves apart as the leading mid-tier Enterprise Digital Company. We are carving out a position in the minds of some of the world's largest brands as the challenger to the large IT services companies through our focused capabilities and the accessibility of our management team who can ensure agility and problem solving in large transformational projects," Birlasoft Managing Director and CEO Anjan Lahiri said.

Kapoor, whose appointment is with effect from June 1, 2019, will be based in India, and will report to Chairman, Amita Birla.

Birlasoft's headcount stood at 10,061 people at the end of March, 2019. The attrition (last 12 month basis) was at 19.9 per cent.

The board has recommended final dividend of Rs 2 per equity share for the year 2018-19, subject to approval at the annual general meeting on August 7, 2019.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 24 2019. 21:31 IST