Birlasoft’s net profit grew 11.8% to Rs 180 crore
Birlasoft reported a net profit of Rs 180 crore in the March quarter of FY24, up 11.8% quarter on quarter (QoQ). The profit for the company grew by a whopping 60.5% on-year.
The growth in profit in Q4 comes on the back of surge in non-core income, slight increase in operating margin and a decline in employee expenses. Operating margin jacked up by 33 bps (3.8% QoQ) to end at 14.7% in the final quarter of FY24.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitThe revenue for the Pune-based company in Q4 stood at Rs 1,363 crore, up 1.5% sequentially. In December quarter the IT service provider posted a revenue of Rs 1,343 crore. For the full fiscal 24, the company's revenue came at Rs 5,278 crore, up by 10.1% on-year.
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-109701707»>
The IT company’s board has recommended a final dividend of Rs 4 per share. Angan Guha, CEO and MD, Birlasoft, said, “On a constant currency basis, our revenues have grown 9.1% ex Invacare during FY 24 and revenues during the fourth quarter are up 1.6% sequentially." Invacare was the US based client of Birlasoft that filed for bankruptcy last year.
He added, «While our near term outlook is likely to reflect the impact of shifts in customer priorities that affect both transformational and discretionary spends, we continue to invest in our capabilities such as Generative AI where we have
