Profit before tax jumped 10.19% to Rs 215.44 crore in Q3 FY24 as compared with Rs 195.52 crore posted in Q2 FY23.

In Q3 FY24, EBITDA stood at Rs 214.3 crore, up 3.4% QoQ and 35.3% YoY. EBITDA margin improved to 16% in Q3 FY24 as against 15.8% in Q2 FY24 and 13% in Q3 FY23.

In dollar terms, the company's revenue was at $161.3 million, registering a growth of 1.9% QoQ and 8.7% YoY.

In constant currency terms, revenues were up by 1.8% QoQ.

The company signed deal of TCV $218 Million during the quarter with TCV new deal wins of $94 M and renewals of $ 124 Million.

Active client count at 272 in Q3FY24 (compared to 278 in Q2FY24 and 299 in Q3FY23), reflecting sustained rationalisation of the ‘tail’ and Revenue from Top 5, Top 10 and Top 20 clients grew YoY by 18.1%, 17.9% and 9.7% respectively.

Cash and cash equivalents increased to $203 million at the end of Q3 FY24 from Rs $173.5 million at the previous quarter same fiscal.

Workforce strength increased QoQ to 12,356 as on 31st December 2023, and attrition improves further to 12.6% during Q3FY24 (from 15.0% a quarter ago and 25.5% a year ago).

Angan Guha, chief executive officer and managing director, said, “Deal signings during the quarter at $218 million TCV too have been robust, comprising both renewals as well as netnew engagements. We continue to invest in our capabilities and have further expanded our leadership team with the induction of Manjunath Kygonahally as chief executive for Rest of the World (ROW) region. The fundamentals of our business remain solid, and we stay focused on execution.”

Kamini Shah, chief financial officer, Birlasoft, said, “We delivered a strong margin performance too with EBITDA margin expanding to 16.0%, despite making sustained investments in our business and having rolled-out an organization-wide compensation increase effective 1st September. We continued to generate strong cash flows with best-in-class DSO at 51 days, resulting in operating cash flow at 141% of EBITDA. Our sharp focus on disciplined execution and operational efficiency position us well to successfully navigate through the current macroeconomic environment.”

Birlasoft, part of the CK Birla Group, provides digital and information technology consulting, services, solutions and products for organizations across industries, worldwide.

The scrip hit an-all time high at Rs 841.50 intraday today.