Cigniti Technologies Consolidated Q2FY19 Net Profit at Rs 49.53 Cr as against Q2FY18 Net Profit of Rs 9.81 Cr

Cigniti Technologies Consolidated Q2FY19 Net Profit at Rs 49.53 Cr as against Q2FY18 Net Profit of Rs 9.81 Cr

Consolidated Q2FY19 Revenue clocked Rs. 204.96 Cr

Consolidated Financial Performance for Q2FY19 v/s Q2FY18 (Corresponding Quarter)

  • Revenue of Rs. 204.96 crore v/s. Rs. 169.02 crores [á 21%]
  • EBITDA of Rs. 37.14 crore v/s. Rs. 13.96 crore
  • PAT at Rs. 49.53 crore v/s. Rs. 9.81 crore

Consolidated Financial Performance for Q2FY19 vs Q1FY19 (Sequential Quarter

  • Revenue of Rs. 204.96 crore v/s. Rs. 194.71 crores [á 5%]
  • EBITDA of Rs. 37.14 crore v/s. Rs. 28.19 crore
  • PAT at Rs. 49.53 crore v/s. Rs. 39.15 crore

Hyderabad, November 12, 2018: Cigniti Technologies Limited, a global leader in independent quality engineering services, today announced the consolidated financial results for the second quarter ended September 30, 2018.

The company’s Net Profit for Q2FY19 stood at Rs 49.53 crore as against Net Profit of Rs 9.81 crore in Q2FY18.

The Company’s Revenue from operations for the quarter under consideration stood at Rs 204.96 crore as against Rs 169.02 crore in Q2FY18.

EBIDTA for the September quarter was at Rs 37.14 crore and EBIDTA margin stood at 18.1%.

Other income includes Net foreign exchange gain of Rs. 684.12 lakhs for the quarter ended September 30, 2018 (net foreign exchange gain of Rs. 566.99 lakhs for the quarter ended June 30, 2018) and export incentive of Rs. 1,646.23 lakhs pertaining to the period from April 2015 to September 2018 recognized in the current quarter based on the duty scrips grant received/receivables.

Highlights for the quarter ended September 30, 2018

  • 18 clients added during the quarter
  • Focusing on new service lines such as IoT, Artificial Intelligence, Digital and Quality Engineering to cater to enterprises across the globe.
  • Revenue from top 10 clients contributed approximately 30% of the Revenue
  • Travel, Transport & Hospitality sector contributed the most to the revenue for Q2FY19
  • Revenue split geographically: North America & Canada – 84%, UK & Europe – 11%, Rest of the World 5%

Management Commentary

Commenting on the result Mr. C V Subramanyam, Chairman & MD – Cigniti Technologies said “I am happy that we continued in delivering another quarter of performance consistent over the last few quarters. We have been optimizing our cost and delivering an enhanced EBITDA and profitability over the last five quarters.  Our revenue pipeline is robust, and we anticipate to close large enterprise deals in the coming months which shall contribute to our revenue in a significant way. Our continued performance accelerates our journey in becoming the world’s largest and most respected independent software testing and quality engineering services company.

About Cigniti Technologies Limited

Cigniti Technologies Limited (www.cigniti.com), Global Leaders in Independent Software Testing and Quality Engineering Services, is headquartered at Hyderabad, India. Cigniti’s 2100+ employees are spread across US, UK, India, Australia, and Canada. Cigniti is the world’s first Independent Software Testing Services Company to be appraised at CMMI-SVC v1.3, Maturity Level 5, and is also ISO 9001:2008 & ISO 27001:2013 certified. Cigniti’s test offerings include Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance.

For further information, please contact:

Midhun Pingili
Cigniti Technologies
Mob: +91 8886093093
Email: midhun.pingili@cigniti.com

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