Cigniti Q2FY22 net profit at Rs22.17cr; stock ends lower

Reported EBIDTA for the September quarter was at Rs31.92cr and EBIDTA margin stood at 10.4%.

Oct 22, 2021 04:10 IST India Infoline News Service

Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the quarter ended September 30, 2021.

The Company’s Consolidated Revenue from operations for the quarter under consideration grew by 16.5% to Rs307.90cr as against Rs264.36cr in Q1FY22.

The company’s net profit for Q2FY22 stood at Rs22.17cr as against a Net Profit of Rs20.42cr in Q1FY22.

Reported EBIDTA for the September quarter was at Rs31.92cr and EBIDTA margin stood at 10.4%.

During the current quarter and six-month period ended September 30,2021, the Company has written off export incentives amounting to Rs9.74cr pertaining to the financial year 2019-2020, pursuant to notification no. 29/2015-2020 dated September 23, 2021, issued by Ministry of Commerce & Industry. The Operational EBITDA margin would have been 13.5 percent if the export incentives had not been written off.

Other income includes net foreign exchange gain of Rs1.87cr for the quarter ended September 30, 2021.

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