New Delhi, July 31,2024.
Birlasoft, a leading IT services and solutions provider, today reported its unaudited consolidated financial results for the first quarter ended June 30, 2024. Birlasoft is part of the $3 bn CK Birla Group, which has over 35,000 employees and operates 52 manufacturing facilities globally.
Mr. Angan Guha, Chief Executive Officer and Managing Director, Birlasoft said, “Our performance during the quarter under review reflects a challenging operating environment and tightened discretionary spends by customers. In that backdrop, I am pleased to note that our Infra and ROW businesses, both historically smaller contributors to our revenue, have done particularly well on the back of our efforts to enhance our capabilities and footprint there. Our deal wins during the quarter are also up 10% year on year at $160 Mn. We continue to invest in our business across our verticals and service lines to strengthen our position as a domain and emerging tech capabilities-led player.”
“Our revenue during the quarter under review grew 5.1% year on year to Rs 13,274 million. PAT for the quarter grew 9.2% year on year to Rs 1,502 Mn. Our quarterly collections continued to be strong, resulting in a 46% rise year on year in cash and cash equivalents to Rs 19,143 Mn. Our DSO improved sequentially to 52 days and on this key parameter we continue to be among the best in the industry. We have started the new financial year with a robust balance sheet and healthy cashflows that enable us to keep investing in capabilities for future growth even as we navigate through the current challenges in the macro-economic environment,” said Ms. Kamini Shah, Chief Financial Officer, Birlasoft.
