Q1FY23 Quarterly Result Announced for Expleo Solutions Ltd.
IT consulting company Expleo Solutions announced Q1FY23 results: Consolidated (QoQ): The operating revenue was Rs 1,274 million in Q1FY23 as compared to Rs 1,136 million in Q4FY22, reflecting a growth of 12.2% Total income was Rs 1,282 million in Q1FY23 as compared to Rs 1,161 million in Q4FY22, reflecting a growth of 10.4%. EBITDA stood at Rs 267 million with the margin at 20.9% in Q1FY23 as compared to Rs 249 million with the margin at 21.9% in Q4FY22, reflecting a growth of 7.1%. Profit after tax stood at Rs 177 million in Q1FY23 as compared to Rs 173 million in Q4FY22, reflecting a growth of 2.5%. Basic EPS stood at Rs 16.74 as compared to Rs 18.18 for Q4FY22. The Company’s net cash position stood at Rs 1,479 million in Q1FY23 as compared to Rs 1,558 million in Q4FY22 Consolidated (YoY): The operating revenue was Rs 1,274 million in Q1FY23 as compared to Rs 880 million in Q1FY22, reflecting a growth of 44.8%. Total income was Rs 1,282 million in Q1FY23 as compared to Rs 922 million in Q1FY22, reflecting a growth of 39.1%. EBITDA stood at Rs 267 million with the margin at 20.9% in Q1FY23 as compared to Rs 146 million with the margin at 16.6% in Q1FY22, reflecting a growth of 82.9%. Profit after tax stood at Rs 177 million in Q1FY23 as compared to Rs 130 million in Q1FY22, reflecting a growth of 36.2 %. Basic EPS stood at Rs 16.74 as compared to Rs 12.50 for Q1FY22, reflecting a growth of 33.9%. The Company’s net cash position stood at Rs 1,479 million in Q1FY23 as compared to Rs 1,377 million in Q1FY22. Commenting on the results, Mr. Balaji Viswanathan, Managing Director & CEO, Expleo Solutions Limited, said: “We had yet another quarter of strong revenue growth primarily driven both by our focus on automation, Digital assurance, Quality Engineering and the newly added Data Management segment. Growth has been across all regions with the US showing a significant contribution, thanks to the Data Management practice. We continue to see good demand despite the volatile global economic scenario and expect this to continue in the near to medium term. Our focus and investments in people, technology and partnerships in the Digital transformation capabilities are enabling this growth in revenues. The margins are lower than last quarter but is above our expected range of ~18% (EBITDA) due to timing of some of the Expenses. Talent Acquisition and attrition continues to be a challenge as is the case with the Industry. The Training, upskilling and skill management program that we had invested over the last 18 months and continuing to invest is helping us in managing the client expectations and demand to a great extent. We continue to invest in attracting and retaining the right talent, people engagement and focused retention plans to address the supply related changes over the medium to long term. The merger of the unlisted entities of the group that was announced in 2021 saw some good progress. As per the NCLT directives, in the shareholder and creditors meetings that was held on 2nd August 2022, 99.999% shareholders and 100% of the unsecured creditors approved the proposed merger plan. We sincerely thank our shareholders and unsecured creditors for the same.” Result PDF11-08-2022