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IT consulting & software company Expleo Solutions announced Q1FY24 results:
- Consolidated Q1FY24 vs Q4FY23:
- The operating revenue was Rs 2,251 million in Q1FY24 as compared Rs 2,311 million in Q4FY23.
- Total income was Rs 2,268 million in Q1FY24 as compared to Rs 2,349 million in Q4FY23.
- EBITDA stood at Rs 346 million at 15.4% in Q1FY24 as compared to Rs 431 million at 18.7% in Q4FY23.
- Profit after tax stood at Rs 201 million in Q1FY24 as compared to Rs 290 million in Q4FY23.
- Basic EPS stood at Rs 13.01 as compared to Rs 18.73 for Q4FY23.
- The Company’s net cash position stood at Rs 1,640 million in Q1FY24 as compared to Rs 1,557 million in Q4FY23.
- Consolidated Q1FY24 vs Q1FY23:
- The operating revenue was Rs 2,251 million in Q1FY24 as compared to Rs 2,124 million in Q1FY23, reflecting a growth of 6%.
- Total income was Rs 2,268 million in Q1FY24 as compared to Rs 2,132 million in Q1FY23, reflecting a growth of 6.4%.
- EBITDA stood at Rs 346 million with a margin of 15.4% in Q1FY24 as compared to Rs 376 million with a margin of 17.7% in Q1FY23.
- Profit after tax stood at Rs 201 million in Q1FY24 as compared to Rs 235 million in Q1FY23.
- Basic EPS stood at Rs 13.01 as compared to Rs 14.79 for Q1FY23.
- The Company’s net cash position stood at Rs 1,640 million in Q1FY24 as compared to Rs 1,715 million in Q1FY23.
Commenting on the results, Balaji Viswanathan, Managing Director & CEO, Expleo Solutions, said, “This quarter has been a challenging quarter across both Technology and Engineering business. While the deal pipeline and business outlook over the long term look quite positive, in the next couple of quarters we expect to face some headwinds as the timelines to close deals and the overall business sentiments are soft given the macro conditions in our larger markets.
The deal cycles are taking longer than usual, and the deal sizes are small adding to some short-term pressures on both margins and revenue growth. We had some cost increases as we integrate the operations, the scale should help us in optimizing our costs in the medium term.
We continue to invest in our people, skills, and partnerships in anticipation of robust growth in the medium to long term since the fundamentals on scale combined with talent and cost-effectiveness is quite strong. We continue to hire and train, however a little more cautiously in anticipation of the growth. Attrition situation continues to be better for the second quarter and is close to the pre-pandemic levels."
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