Cigniti Technologies Reports the Financial Results for Q4FY23 and the Fiscal Year FY22-23anand
Consolidated Revenue Rs. 424.97 crores and Net Profit Rs. 49.24 Cr for Q4FY23.
The Board has Recommended a Dividend of Rs. 3 & an Additional Special Dividend of Rs. 2.50 on the Company’s Successful Completion of 25 Years.
Consolidated Financial Performance for FY23 v/s FY22 (Corresponding Year)
- Revenue of 1647.58 crore v/s. Rs. 1241.80 crore [32.7%]
- Reported EBITDA of Rs 237.70 crore v/s. 129.28 crore [83.9%]
- PAT of 168.32 crore v/s. Rs. 91.74 crore [83.5%]
Consolidated Financial Performance for Q4YF23 v/s Q4FY22 (Corresponding Year)
- Revenue of 424.97 crore v/s. Rs. 344.08 crore [23.5%]
- Reported EBITDA of 68.37 crore v/s. Rs. 32.61 crore [109.6%]
- PAT of 49.24 crore v/s. Rs. 22.60 crore [117.9%]
Consolidated Financial Performance for Q4FY23 v/s Q3FY23 (Corresponding Quarter)
- Revenue of 424.97 crore v/s. Rs. 427.99 crore
- EBITDA reported of 68.37 crore v/s. Rs. 64.02 crore
- PAT of 49.24 crore v/s. Rs. 46.55 crore
Hyderabad, May 02nd, 2023: Cigniti Technologies Limited, the world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, announced the consolidated financial results for the quarter, and the fiscal year ended March 31st, 2023.
The company’s reported Net Profit for Q4FY23 stood at Rs. 49.24 crore as against Net Profit of Rs. 46.55 crore in Q3FY23.
The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 424.97 crore as against Rs 427.99 crore in Q3FY23.
EBITDA margin for the March quarter was at 16.2% and EBITDA stood at 68.37 crores, up by 109.6% compared to Q4’FY22.
For the last fiscal year FY22-23, Cigniti Technologies reported total revenue of Rs. 1647.58 crore, a 32.7% increase over the previous fiscal year. Net profit for the year was Rs. 168.32 crore, representing a 83.5% increase over the previous year.
Commenting on the results, Mr. C V Subramanyam, Chairman & MD, said, “ I am happy that we continued our strong performance in Q4 FY23 and the FY ending March 2023. We have grown by 32% in Revenue in comparison to the previous year and expanded in margins substantially. Consequently, the board has recommended a final dividend of Rs. 3 per share and a special dividend of Rs. 2.50 per share marking the milestone completion of 25 years by the company. Our endeavor to help clients with the digital landscape through a quality-first approach to digital transformation has put us in an enviable position in the Global Market. I am confident we will march ahead and reach newer heights in the years to come.”
Highlights for the quarter ended March 31, 2023
- Revenue from the top 5 clients contributed approximately 22.8% of the Revenue
- BFSI, Retail & e-commerce and Travel & Transport sectors contributed the most to the revenue for Q4’FY23
- Revenue split geographically: North America & Canada – 82.6%, UK & Europe – 8.5%, Rest of the World – 8.9%.
About Cigniti Technologies Limited
Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world’s leading AI & IP-led Digital Assurance and Digital Engineering Services Company. Headquartered in Hyderabad, India, Cigniti’s 4100+ employees help Fortune 500 & Global 2000 enterprises across 24 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP & Platform-led innovation with expertise across multiple verticals and domains.
To learn more, visit www.cigniti.com.