Revenue from operations grew by 4.08% quarter on quarter (QoQ) to Rs 102.51 crore in the quarter ended 30 September 2023.

As compared to Q2 FY23, the company's net profit and revenue dropped 49.7% and 14.6%, respectively.

Profit before tax was at Rs 22.97 crore in quarter ended 30 September 2023 (down 20.41% QoQ and down 47.9% YoY).

Consolidated EBIT stood at Rs 12.71 crore in the second quarter of FY24, up 71% QoQ and down 55.2% YoY. EBIT margin for the quarter was at 12.4%.

During the quarter, revenue contribution from the top 5 customers stood at 40.6% and from the top 10 customers at 62.2%. The total number of active customer was 48 in Q2 FY24.

As on 30 September 2023, the Sasken group had 1,381 employees and a 17% last twelve months attrition rate.

On half-year basis, the company's net profit decreased 14.42% to Rs 43.78 crore on 9.2% decline in revenue to Rs 201 crore in H1 FY24 over H1 FY23.

Meanwhile, the company's board has declared an interim dividend of Rs 12 per equity share for FY24. The record date for the same is fixed on 31 October 2023 and the dividend will be paid on or before 18 November 2023.

Sasken Technologies is a specialist in product engineering and digital transformation providing concept-to-market, chip-to-cognition R&D services to global leaders in semiconductor, automotive, industrials, consumer electronics, enterprise devices, satcom, telecom, and transportation industries.