Cigniti Technologies Limited, world’s leading AI & IP-led Digital Assurance and Engineering services company, announced the consolidated financial results for the quarter ended June 30, 2022.
The company’s reported Net Profit for Q1FY23 stood at Rs 31.00 crore as against Net Profit of Rs 22.60 crore in Q4FY22, increased by 37%.
The Company’s Consolidated Revenue from operations for the quarter under consideration increased by 10% to Rs 377.97 crore as against Rs 344.08 crore in Q4FY22.
EBIDTA reported for the quarter ended June 30, 2022, stood at Rs. 44.55 crore for the quarter and year ended June 30, 2022, respectively.
Management Commentary
Commenting on the results, C V Subramanyam, Chairman & MD, said, “Our opening quarter has delivered stupendous numbers and the company’s strong fundamentals is reflected in our growth on multiple parameters. I am happy to update you that we have won few multi-million dollar wins in the quarter and this would further accelerate our growth in the coming quarters. The acquisition of Aparaa Digital (RoundSqr), a leader in specialized AI/ML, Data and Blockchain Engineering services further bolsters our digital ambitions towards becoming the world’s leader in Digital Assurance and Digital Engineering services.
We remain dedicated to our long-term growth goals and retain our focus on profitability built on a sustainable business, ensuring long-term value to all our stakeholders” he added further.
Highlights for the quarter ended June 30, 2022
- Revenue from the top 5 clients contributed approximately 22.34% of the Revenue
- BFSI, Retail & e-commerce and Travel & Transport sectors contributed the most to the revenue for Q1FY23
- Revenue split geographically: North America & Canada – 85%, UK & Europe – 8%, Rest of the World 7%.