Expleo Solutions reports operating revenue up by 46.8% YoY in Q3 FY22; stock tanks 4.5%

4 Feb 2022 , 11:52 AM

Expleo Solutions Ltd., a technology services company specializing in providing quality assurance services for Banking, Financial, and Insurance (BFSI) Software, and in enabling automation, digital transformation to its clients, announced its Third Quarter and Nine-month results ended on 31st December 2021.

Expleo Solutions’ stock dipped by 4.54% or Rs 75.85 so far in today’s trade at Rs 1,596.55 against its previous closing price of Rs 1,672.40. It touched the day’s low of 1,540.85 so far and a high of Rs 1,679.

The operating revenue reported at Rs 105.80 crore in Q3FY22 as compared to Rs 72.10 crore in Q2FY21, reflecting a growth of 46.8% YoY. Total income was Rs 106.30 crore in Q3FY22 as against Rs 76.80 crore in Q3FY21, reflecting a growth of 38.5% YoY.

Its EBITDA for the quarter ended December 2021 stood at Rs 18.70 crore with the margin at 17.7%, against Rs 13.70 crore for the previous corresponding quarter, up by 36.50% YoY.

Its PAT for the quarter ended December 2021 stood at Rs 11.60 crore against 12.5 crores for Q3 FY’21, down by 7.2% YoY.

Revenue and Total income for the 9M period ended December 2021 stood at Rs 291 crore and Rs 293.60 respectively, against Rs 221.60 crore and Rs 228.90 crore, registering a growth of 31.30% and 28.3% on-year respectively.

Its EBITDA for the 9M period ended December 2021 was reported at Rs 52.40 crore against Rs 50.70 crore for the corresponding 9M period, reflecting marginal growth of 3.35% YoY. PAT for the 9M period ended December 2021 stood at Rs 36.10 crore against Rs 39.40 crore for the previous 9M period, down by 8.38% YoY.

“Digital and Specialised testing services is now over 38%of our total business and continues to grow at over 50% year on year. We have added 14 new clients and signed 56 new engagements with existing clients. Our offshore share of business continues to grow due to the pandemic scenario,” commented Mr. Balaji Viswanathan, Managing Director & CEO, Expleo Solutions Limited on the company’s performance.