Earnings | Birlasoft Limited (NSE: BSOFT): Q3FY23 Results Out; Total Income rise 14% YoY

Birlasoft Limited (NSE: BSOFT) is an Indian multinational information technology services company that provides a wide range of IT services, including application development, maintenance, and support, enterprise solutions, digital services, testing, infrastructure management, and consulting services to clients in various industries. Birlasoft was founded in 1995 and is headquartered in Noida, India. The company operates in several countries, including the United States, Canada, Europe, Australia, Singapore, and India. Birlasoft serves clients in various industries, including banking and financial services, healthcare, manufacturing, retail, and technology.

Birlasoft Ltd. recently announced its Q3FY23 results. In INR, the company’s revenue for the quarter was Rs 12,219 million, up 14.0% YoY and 2.5% QoQ. The EBITDA for the quarter was Rs 74 million, while the EBITDA excluding a one-time provision was Rs 1,584 million. The PAT was Rs (164) million, reflecting the impact of a one-time provision. In US dollars, the revenue for the quarter was US$ 148.4 million, up 3.5% YoY and down 0.3% QoQ. In constant currency, the revenue was up 5.5% YoY and flat QoQ. The EBITDA for the quarter was US$ 0.9 million, while the EBITDA excluding a one-time provision was US$ 19 million. The PAT was US$ (2.0) million, reflecting the impact of a one-time provision.

The company reported total income of Rs. 1234.2 crore during the period ended December 31, 2022, as compared to Rs. 1189.3 crore during the period ended September 30, 2022. The company reported a net loss of Rs. -16.3 crore for the period ended December 31, 2022, as against a net profit of Rs. 115 crore for the period ended September 30, 2022. The company reported EPS of Rs. -0.59 for the period ended December 31, 2022, as compared to Rs. 4.08 for the period ended September 30, 2022.

The company’s CEO and Managing Director, Mr. Angan Guha, stated that their revenues for the quarter grew 14% YoY and 2.5% QoQ to Rs 12,219 million. Deal wins were strong at US$ 231 million TCV for the quarter. He also mentioned that the business is fundamentally robust, and they are making investments necessary for future growth, which makes him confident about their outlook going forward.