Cigniti Technologies posts net profit at Rs20.42cr in Q1FY22

Other income includes Net foreign exchange gain of Rs. 0.27 Cr. for the quarter ended June 30, 2021, the company said.

Jul 26, 2021 04:07 IST India Infoline News Service

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

The Company’s Consolidated Revenue from operations for the quarter under consideration grew by 13.4% to Rs264.36cr as against Rs233.02cr in Q4FY21.

The company’s Net Profit for Q1FY22 stood at Rs20.42cr as against Net Profit of Rs 24.67 crore in Q4FY21.

EBIDTA for the June quarter was at Rs 24.31 crore and EBIDTA margin stood at 9.2%. Other income includes Net foreign exchange gain of Rs. 0.27 Cr. for the quarter ended June 30, 2021, the company said.

During the current quarter, the Group has invested in additional manpower in line with its business transformation initiatives which has affected the current quarter profitability.  The addition in manpower has reduced the offshore utilization and expected to yield revenue in the coming quarter.

Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “I am happy that the first quarter of the fiscal year has been successful with improved performance coupled with increased efficiency and demand. As a company, we continue to consistently implement strategies to increase our market share as well as market size. Keeping in mind the increasing demand of the industry, we have made additions to our extensive product portfolio and services and are gearing up for further enhancing our offerings in the software testing industry.

We are confident of building an even robust order book in the upcoming quarters and achieve steady growth on account of efficient order execution,” he added.

Highlights for the quarter ended June 30, 2021
  • Revenue from top 5 clients contributed approximately 20.8% of the Revenue
  • BFSI, Travel & Transport and Retail & e-Commerce sectors contributed the most to the revenue for Q1FY22
  • Revenue split geographically: North America & Canada – 85%, UK & Europe – 9%, Rest of the World 6%

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