Q4FY24 Quarterly & FY24 Annual Result Announced for InfoBeans Technologies Ltd.
IT Consulting & Software company InfoBeans Technologies announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue saw a modest YoY increase of 3% in Q4, with reported figures rising from Rs 97 crores in March 2023 to Rs 100 crores in March 2024. EBITDA for the same quarter improved significantly by 31%, demonstrating enhanced profitability. The Profit After Tax (PAT) experienced a substantial surge of 95% compared to the previous year. FY24 Financial Highlights: Despite a 4% YoY decline in revenue, the company's profitability showed resilience. Full-year EBITDA fell by 21% YoY. The annual PAT saw a decline of 38% YoY at Rs 22 crore. Regarding the performance, Avinash Sethi, Co-founder, InfoBeans said “Due to lower team utilization in the first three quarters, there is a drop in the yearly margins. However, with an uptick in demand, the utilization levels improved in Q4 of FY24. This helped improve the margins. InfoBeans onboarded 3 new large enterprises in Q4FY24 and also onboarded 116 team members. InfoBeans continues to invest aggressively in sales efforts, high-growth teams and continues to focus on large enterprise clients." Result PDF08-05-2024