Birlasoft Reports 26% Growth in PAT, Hits Rs 145 Crore Profit in Q2 FY24
Birlasoft, the IT company, achieved a remarkable 26% increase in Profit After Tax (PAT) with Rs 145 crore profit in the quarter ending September 2023. The company's strong financial performance also saw a 9.8% growth in revenue from operations. CEO Angan Guha highlights growth, margins, and significant deal wins, including a USD 100 million deal. Birlasoft strengthens its capabilities with new leadership and transformative tech focus.
IT company Birlasoft has announced a notable 26 percent increase in its Profit After Tax (PAT), reaching Rs 145 crore for the quarter ending in September 2023. In the corresponding period last year, the Pune-headquartered company had reported a PAT of Rs 115 crore, as indicated in a regulatory filing on Tuesday.
During the quarter under review, Birlasoft's revenue from operations displayed a strong growth of 9.8 percent, reaching Rs 1,309 crore, compared to Rs 1,192 crore in the same quarter of the previous year.
Birlasoft's Chief Executive Officer and Managing Director, Angan Guha, expressed satisfaction with the company's robust financial and operational performance. The company achieved impressive results in growth, margins, and deal wins. The revenue for Q2 FY24 witnessed a 3.1 percent sequential growth in constant currency terms and a 3.0 percent increase in dollar terms, attributed to enhanced account management and deal ramp-ups.
The company reported substantial deal wins, with a highlight being a significant deal securing a Total Contract Value (TCV) of over USD 100 million during the quarter.
Birlasoft has taken significant steps to bolster its capabilities, particularly in emerging technology areas. Additionally, the leadership team welcomed Selvakumaran Manappan as the Chief Operating Officer, contributing extensive experience in transformative capability-building.
The company also expanded its leadership with the appointment of Satyavati Berera, former COO of PwC, as an Additional (Non-Executive – Independent) Director.
SOURCE (PTI)
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