Q3 Revenue up 22% YoY, 6% QoQ PAT at ₹ 1,140 M; up 18.2% YoY
Birlasoft a part of the $ 2.4 billion diversified CK Birla Group, reported its unaudited consolidated financial results for the third quarter ended December 31, 2021.
Dharmender Kapoor, Chief Executive Officer and Managing Director, Birlasoft, said, “We are pleased to report YoY Q3 revenue growth of 21.7%; and PAT growth of 18.2%. With strong deal wins across our focus industries and a robust pipeline, we continue to be optimistic about our growth numbers for this fiscal.
Our concerted long-term strategy combined with robust execution continues to propel growth momentum from our top customers. Birlasoft’s strong positioning in the market is further reaffirmed with the recognitions from the industry analysts.”
Key Financial Highlights for Q3 FY22
in US $
· Revenue at $ 143.4 M, up 20.1% YoY & 4.7% QoQ. Revenue was up 5% QoQ in constant currency.
· EBITDA at $ 21.8 M, up 11.2% YoY & 6% QoQ o Margin at 15.2%; down 122 bps YoY and up 18 bps QoQ
· PAT at $ 15.2 M; up 16.6% YoY and 9.1% QoQ
in ₹
· Revenue at ₹ 10,719 Million (M), up 21.7% YoY and 6% QoQ
· EBITDA at ₹ 1,628 M, up 12.7% YoY & 7.2% QoQ
· PAT at ₹ 1,140 M up 18.2% YoY and 10.5% QoQ o PAT margin at 10.6%; up 44 bps QoQ
Other Highlights
· Signed deals of TCV $ 182 M during the quarter o New deal TCV wins of $ 121 M in Q2
· Active Client Count at 285 o $ 5 M customer at 21; up by 1 QoQ o Top 10 & Top 20 customers grew 21.4% & 22.9% YoY, respectively
· Cash & equivalents at $ 152.6 M (₹ 11,345 M), up $ 16.6 M YoY (₹ 1,237 M)
· Q3 FY22 DSO at 55 days, improved by 2 days YoY
· Headcount stood at 11,945 as of December 31, 2021 o Added 1,546 professionals on a YoY basis.
Deal Wins for the Quarter
· Chosen by a Global design and manufacturer of access equipment for implementation of Infor ERP to accelerate its procure-to-pay integration.
· Selected by a leading US Medical Technology Company for Optimizing its Program Management Centre.
· Selected by a leading US Telecom Major for its revenue application management and support services.
· Awarded by a leading Construction and materials company for its Application Managed Services and support of the J D Edwards applications.
· Chosen by a leading Roofing major for implementation, roll out, and support of J D Edwards Enterprise ERP stack.
· Selected by a leading Global Business Process Services Company for testing services
· Awarded by a leading US Industrial Equipment for Infrastructure support services.
· Selected by a leading US technology services provider to global energy, for J D Edwards Application management Services stack.
Business Highlights & Recognition.
· Birlasoft named a Top 15 Sourcing Standout by ISG.
. Birlasoft was among the leading providers in the Booming 15 category globally, as well as for the Americas region based on Annual Contract Value (ACV) won over the last 12 months, according to the 3Q 2021 Global ISG Index™. This is the seventh consecutive time that Birlasoft has been featured across named categories by ISG.
· Birlasoft AutoPack Achieves Oracle Validated Integration with JD Edwards EnterpriseOne Expertise for Delivering Proven, Repeatable Integration.
· Birlasoft named as a Leader in the Agile Development Specialists Quadrant of the 2021 ISG Provider Lens™ Next-Generation Application Development and Maintenance Services Report for the U.S. by Information Services Group (ISG).
· Birlasoft’s Project Shodhan, a CSR initiative to stop crop residue burning bagged Special Jury Award in the 7th edition of CSR impact Award 2021.
· Birlasoft named as a leader in the SAP S/4HANA System Transformation – Midmarket - U.S. region by Information Services Group (ISG), a leading global technology research and advisory firm.