Birlasoft, part of the USD 2 billion diversified C K Birla Group, on May 20 reported a 43.3 percent rise in consolidated net profit at Rs 98.9 crore for the March 2021 quarter.
The IT services company had posted a profit of Rs 69 crore in the year-ago period, Birlasoft said in a regulatory filing.
Revenue from operations, however, declined marginally to Rs 902.8 crore in the quarter under review from Rs 907 crore in the January-March 2020 period, it added.
"Despite heightened uncertainties during this pandemic year, we have exited FY21 with several key milestones...we have exited the year with a revenue and profit growth of 8 percent and 43 percent, respectively. With an exciting record deal win rate of USD 888 million TCV, we are closing this year with a highest-ever order book of annuity and digital deals," Birlasoft Managing Director and Chief Executive Officer Dharmender Kapoor said.
He added that the company continued to strengthen its channel sales relationship with key platform providers that helps gain traction, win opportunities, and add business value for customers.
"Healthy deal wins, strong partner relationships, and Q4 EBITDA of 16.9 percent helps us set for a very strong performance for FY22...With due focus on a robust customer-centric strategy to win more transformational, multi-services, and long-term deals, combined with operational rigor, we are confident of accelerated growth in FY22 and beyond," he said.
The company signed deals worth USD 326 million in total contract value (TCV) during the quarter.
In dollar terms, the company's net profit grew 41.4 percent to USD 13.5 million, while revenue was lower by 1.8 percent to USD 123.3 million in March 2021 quarter from the year-ago period.
For financial year 2020-21, net profit was up 43 percent to Rs 320.8 crore, while revenue from operations was higher by 8 percent to Rs 3,555.7 crore from the previous fiscal.
Birlasoft's headcount stood at 11,051 on March 31, 2021, with a net addition of 783 professionals during the financial year and 652 during the quarter.
The attrition rate was 11.6 percent, while the active client count was at 291 at the end of the March 2021 quarter.
The results were announced after the close of trading hours. Shares of the company settled at Rs 267.55 apiece on BSE.
The board has recommended a final dividend of Rs 2.50 per equity share for the financial year 2020-21, subject to a declaration of the same by the members at the ensuing Annual General Meeting of the company.
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