Consolidated Q1/FY20 Revenue up by 7% to Rs 208 crore
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Consolidated Financial Performance for Q1/FY20 v/s Q1/FY19 (Corresponding Year)
Consolidated Financial Performance for Q1/FY20 v/s Q4/FY19 (Corresponding Quarter)
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Hyderabad, July 25, 2019: Cigniti Technologies, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the first quarter ended 30 June 2019.
The company’s Net Profit for Q1/FY20 stood at Rs 28.50 crore on a consolidated basis.
The Company’s Revenue from operations for the quarter under consideration stood at Rs 207.57 crore as against Rs 194.71 crore in Q1/FY19 on a consolidated basis.
EBIDTA for the June quarter was at Rs 31.64 crore and EBIDTA margin stood at 15.2%.
Other income includes Net foreign exchange loss of Rs 1.5 crore and Export incentive Rs. 2.6 crore respectively for the quarter ended 30 June 2019
Management Commentary
Commenting on the results Mr C V Subramanyam, Chairman & MD said, “I am pleased to announce that we have started our first quarter of the fiscal year with good performance which is in line with our future plans. As a company we continue to implement strategies to increase the revenue from existing customers, acquire new regulated enterprise customers, increase our recurring revenue portion and extend our footprint in other geographies. We would continue our efforts in expanding the business globally and maintaining a healthy order book”.
Highlights for the quarter ended 30 June 2019
- Revenue from top 5 clients contributed approximately 17% of the Revenue
- Travel, Transport & BFSI sector contributed the most to the revenue for Q1/FY20
- Revenue split geographically: North America & Canada – 84%, UK & Europe – 10%, Rest of the World 6%
About Cigniti Technologies Limited
Cigniti Technologies Limited (www.cigniti.com), Global Leaders in Independent Software Testing and Quality Engineering Services, is headquartered at Hyderabad, India. Cigniti’s 2100+ employees are spread across US, UK, India, Australia, and Canada. Cigniti is the world’s first Independent Software Testing Services Company to be appraised at CMMI-SVC v1.3, Maturity Level 5, and is also ISO 9001:2008 & ISO 27001:2013 certified. Cigniti’s test offerings include Quality Engineering, Advisory & Transformation, Digital Assurance, and Quality Assurance.
