Birlasoft Q4 Profit Surges 60.5% to Rs 180 Cr

New Delhi, Apr 29 (PTI) IT company Birlasoft on Monday reported a 60.55 per cent increase in consolidated net profit to Rs 180.08 crore during the March quarter.

The company had recorded a net profit of Rs 112.16 crore in the year-ago period.

The Pune-based company's revenue from operations stood at Rs 1,362.5 crore in the fourth quarter of FY24, up 11.10 per cent from Rs 1,226.3 crore a year earlier.

According to a company statement, growth during the March quarter was driven by ERP and infrastructure among service lines and banking, financial services and insurance (BFSI), E&U (Energy and Utilities) and manufacturing among verticals.

The revenue was led by manufacturing (Rs 571.02 crore), followed by Life Sciences and Services (Rs 301.49 crore), BFSI (Rs 288.36 crore), and E&U (Rs 201.66 crore).

"We are pleased to report a robust operating performance for both the quarter and the full year, delivering revenue growth as well as margin expansion in the face of continued macro uncertainty," Birlasoft CEO and MD Angan Guha said.

For full FY24, Birlasoft saw an 88.11 per cent increase in profit to Rs 623.76 crore from Rs 331.58 crore in FY23.

Revenue for FY24 was marked at Rs 5,278.1 crore, 10.08 per cent more than FY23.

"While our near-term outlook is likely to reflect the impact of shifts in customer priorities that affect both transformational and discretionary spends, we continue to invest in our capabilities such as Generative AI where we have been early adopters," Guha further said.

The headcount of the company rose to 12,595 as on March 31,2024.

The company's board approved a final dividend of Rs 4 per equity share of face value of Rs 2 each (200 per cent) for FY24.

Shares of Birlasoft on Monday settled at Rs 675.80 on the BSE, up 0.22 per cent from the previous close.