Q3FY23 Quarterly Result Announced for Expleo Solutions Ltd.
IT Consulting & Software firm Expleo Solutions announced Q3FY23 results: Consolidated Q3FY23 vs Q2FY23: The operating revenue was Rs 1,351 million in Q3FY23 as compared to Rs 1,310 million in Q2FY23, reflecting a growth of 3.1%. Total income was Rs 1,467 million in Q3FY23 as compared to Rs 1,328 million in Q2FY23, reflecting a growth of 10.4%. EBITDA stood at Rs 315 million with a margin of 23.3% in Q3FY23 as compared to Rs 289 million with a margin of 22.1% in Q2FY23, with upward movement of 122 bps. Profit after tax stood at Rs 294 million in Q3FY23 as compared to Rs 185 million in Q2FY23, reflecting a growth of 58.8%. Basic EPS stood at Rs 28.22 as compared to Rs 17.17 for Q2FY23. The company’s net cash position stood at Rs 1,599 million in Q3FY23 as compared to Rs 1,082 million in Q2FY23. Consolidated Q3FY23 vs Q3FY22: The operating revenue was Rs 1,351 million in Q3FY23 as compared to Rs 1,058 million in Q3FY22, reflecting a growth of 27.7%. Total income was Rs 1,467 million in Q3FY23 as compared to Rs 1,063 million in Q3FY22, reflecting a growth of 38.0%. EBITDA stood at Rs 315 million with a margin of 23.3% in Q3FY23 as compared to Rs 187 million with a margin of 17.7% in Q3FY22, reflecting a growth of 559 bps. Profit after tax stood at Rs 294 million in Q3FY23 as compared to Rs 116 million in Q3FY22, reflecting growth of 153.7%. Basic EPS stood at Rs 28.22 as compared to Rs 11.10 for Q3FY22, reflecting a growth of 154.3%. The company’s net cash position stood at Rs 1,599 million in Q3FY23 as compared to Rs 1,633 million in Q3FY22. Commenting on the results, Mr. Balaji Viswanathan, Managing Director & CEO, Expleo Solutions Limited, said: “In a seasonally weak quarter, we reported revenue growth of 27.7% on a YoY basis. The outlook remains quite positive albeit with some caution due to several global economic conditions. We signed several new clients and renewed some of our critical engagements. The Digital and new generation testing services continue to show growth and so was our Data Management practice that we added in 2022. Our focus and investments in people, technology and partnerships in the Digital transformation capabilities are enabling the growth in our capability and enhancing our position as a Digital Transformation and Assurance partner. We continue to focus on our costs which are reflected in the continued increase in our net profit and better cash positions. Talent acquisition and attrition saw a slight respite in this quarter, however, the demand and the challenge in finding the right skills is still high. We are focusing on graduate hiring and upskilling in 2023. Finally, the merger process is still underway and awaiting the orders from NCLT which is expected in February 2023.” Result PDF15-02-2023