Tag: Mr. C V Subramanyam

Cigniti Technologies Q4FY21 Revenue
Business World, News

Cigniti Technologies Q4FY21 Revenue

Apr 30, 2021 by Rekha Nair 0 Comments #Chairman & MD, #Mr. C V Subramanyam

Mumbai: Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services,announced the consolidated financial results for the quarterended March 31, 2021.

The company’s reported Net Profit for Q4FY21 stood at Rs 24.67crore as against Net Profit of Rs 26.35crore in Q3FY21.

The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 233.02crore as against Rs 223.90 crore in Q3FY21.

EBIDTA for the Marchquarter was at Rs 33.25 crore and EBIDTA margin stood at 14.3%.
In Q4FY21 the Board of Directors recommended dividend of Rs. 2.50/- per share on face value of Rs. 10/- each, subjected to the approval of shareholders in the Annual General Meeting of the Company.

Management Commentary

Commenting on the results Mr. C V Subramanyam, Chairman & MD said, Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “I am happy to announce that we delivered a good performance for Q4 and year ended FY21 which is in line with our goals. Even with COVID-19 disrupting the economy, we were able to lay a strong foundation and consolidate our position.”

“We continued to generate a positive cash flow. I am happy that the board recommended maiden dividend of 25% and as a part of prudent governance we have also approved a dividend policy for the benefit of the investors. The company has entered the new financial year with a healthy sales run rate and a good order book position and is confident of marching ahead positively in the coming years”, he added.

Highlights for the quarter ended March 31, 2021

• Revenue from top 5 clients contributed approximately 21.0% of the Revenue
• BFSI, Retail & e-Commerce and Travel & Transportsectors contributed the most to the revenue for Q4FY21
• Revenue split geographically: North America & Canada – 89%, UK & Europe – 7%, Rest of the World 4%

 

Business World

Cigniti Technologies Q2FY21 results

Nov 6, 2020 by Gouri Achary 0 Comments #Cigniti Technologies Limited, #Mr. C V Subramanyam

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, 2020.

In Q2FY21, Company has made tax provision amounting Rs 8.95 crore on account of tax assessment for earlier years for Cigniti Technologies Inc., USA, wholly-owned subsidiary of the Company. Net profit before Taxes for earlier years stood at 34.17 crores as against Net Profit of Rs 29.11 crore in Q1FY21 up by 17%

The company’s reported Net Profit for Q2FY21 stood at Rs 25.22 crore as against Net Profit of Rs 29.11 crore in Q1FY21.

The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 221.20 crore as against Rs 218.40 crore in Q1FY21.

EBIDTA for the September quarter was at Rs 44.21 crore and EBIDTA margin stood at 20.0%.

Management Commentary

Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “I am happy to announce we were able to deliver a good performance in our second quarter and maintain the momentum of growth. As a company, we are focused on implementing strategies to increase the revenue from existing customers, acquire new customers, extend our footprint in other geographies. I would like to extend my gratitude to our dedicated employees, clients and customers for their constant support.”

Highlights for the quarter ended September 30, 2020

· Revenue from top 5 clients contributed approximately 20.5% of the Revenue

· BFSI, Retail & e-Commerce and Travel & Transport sectors contributed the most to the revenue for Q2FY21

· Revenue split geographically: North America & Canada – 90%, UK & Europe – 6%, Rest of the World 4%

Consolidated Revenue Rs. 221.20 crores and Net Profit Rs. 25.22 Cr

Standalone Revenue Rs. 74.74 crores and Net Profit Rs. 16.54 Cr

 

 

 

Consolidated Financial Performance for Q2FY21 v/s Q2FY20 (Corresponding Year)

 

·         Revenue of Rs. 221.20 crore v/s. Rs. 214.60 crore [á 3.1%]

·         EBITDA of Rs. 44.21 crore v/s. Rs. 36.87 crore

·         PAT of Rs. 25.22 crore v/s. Rs. 35.72 crore

·         PAT is after one-time tax adjustment of Rs 8.95 crores on account of tax assessment for earlier years of US subsidiary Cigniti Technologies Inc.; Net profit before taxes for earlier years stood at Rs 34.17 crores.

 

Consolidated Financial Performance for Q2FY21 v/s Q1FY21 (Corresponding Quarter)

 

·         Revenue of Rs. 221.20 crore v/s. Rs. 218.40 crore [á1.3%]

·         EBITDA of Rs. 44.21 crore v/s. Rs. 36.06 crore

·         PAT of Rs. 25.22 crore v/s. Rs. 29.11 crore

·         PAT is after one-time tax adjustment of Rs 8.95 crores on account of tax assessment for earlier years of US subsidiary Cigniti Technologies Inc.; Net profit before taxes for earlier years stood at 34.17 crores as against Net Profit of Rs 29.11 crore in Q1FY21 up by 17%

 

 

 

Consolidated Financial Performance for H1FY21 v/s H1FY20 (Corresponding Year)

 

·         Revenue of Rs. 439.60 crore v/s. Rs. 422.18 crore [á 4.1%]

·         EBITDA of Rs. 80.27 crore v/s. Rs. 68.52 crore

·         PAT of Rs. 54.32 crore v/s. Rs. 64.22 crore

·         PAT is after one-time tax adjustment of Rs 8.95 crores on account of tax assessment for earlier years of US subsidiary Cigniti Technologies Inc.; Net profit before taxes for earlier years stood at 63.28 crores.