Cigniti Technologies Q1FY19 Net Profit at Rs 39.15 cr as against Q1FY18 Net loss of Rs 5.68 CrHemanth
Q1FY19 Revenue grew by 16% to Rs. 194.71 cr
Consolidated Financial Performance for Q1FY19 vs Q1FY18 (Corresponding Quarter)
- Revenue of 194.71 crore v/s. Rs. 168.48 crore [+16%]
- EBITDA before exceptional items of 28.18 crore v/s. Rs. (0.09) crore
- PAT at 39.15 crore v/s. Rs. (5.68) crore
Consolidated Financial Performance for Q1FY19 vs Q4FY18 (Sequential Quarter)
- Revenue of 194.71 crore v/s. Rs. 178.64 crore [+ 9%]
- EBITDA before exceptional items of 28.18 crore v/s. Rs. 21.23 crore
- PAT at 39.15 crore v/s. Rs. 19.80 crore
Hyderabad, July 31, 2018: Cigniti Technologies Limited, a global leader in independent quality engineering services, today announced the consolidated financial results for the first quarter ended June 30, 2018.
The company’s Net Profit for Q1FY19 stood at Rs 39.15 crore (Net Profit includes one-time reversal of tax provision amounting Rs 13.62 crore in Cigniti Technologies Inc, USA) as against Net Loss of Rs 5.68 crore in Q1FY18.
The Company’s Revenue from operations for the quarter under consideration stood at Rs 194.71 crore as against Rs 168.48 crore in Q1FY18.
EBIDTA for the June quarter was at Rs 28.18 crore and EBIDTA margin stood at 14.5%.
Highlights for the quarter ended June 30, 2018
- 30 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 Q1FY19 followed by ISV and BFSI sectors
- Revenue split geographically: North America – 84%, UK & Europe – 11%, Rest of the World 6%
Commenting on the result Mr. C V Subramanyam, Chairman & MD – Cigniti Technologies said “Our performance during the quarter further accelerates our journey in becoming the world’s largest and most respected independent quality engineering services company. I am pleased with our healthy revenue growth and profitability in Q1. I would like to extend my gratitude to the dedicated employees and to our clients for their constant support. The company is confident of growing at an accelerated phase in the coming years.”
About Cigniti Technologies Limited
Cigniti Technologies Limited (www.cigniti.com), Global Leaders in Independent 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.
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