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HYDERABAD: AI & IP-led digital assurance and engineering services player Cigniti Technologies Limited on Tuesday said it has posted a nearly 118% jump in consolidated net profit for the quarter ended March 31, 2023, at Rs 49 crore as compared to Rs 23 crore in the corresponding quarter of FY22. This was on a nearly 24% rise in consolidated revenue for Q4FY23 at Rs 425 crore as against Rs 344 crore in Q4FY22.
For financial year 2022-23, it clocked a nearly 84% rise in consolidated profit after tax of Rs 168 crore as compared to Rs 92 crore in FY22. This was on a 33% increase in FY23 revenue at Rs 1648 crore from Rs 1242 crore in FY22.
The Hyderabad-based company also said that its board of directors has recommended a dividend of Rs 3 per share and an additional special dividend of Rs 2.5 per share on the completion of 25 years.
Cigniti chairman & managing director C V Subramanyam said the company’s revenues had grown by over 32% in comparison to the previous year and margins had also expanded substantially. “Our endeavor to help clients with the digital landscape through a quality-first approach to digital transformation has put us in an enviable position in the global market.”
The company said its revenues from top five clients accounted for nearly 23% of total revenues during Q4FY23 with sectors such as BFSI (banking, financial services & insurance), retail & e-commerce and travel & transport accounting for a chunk of revenues.
Also while North America and Canada accounted for 82.5% of revenues, UK & Europe contributed 8.5% and the rest of the world accounted for 8.9% of revenue, it said.
For financial year 2022-23, it clocked a nearly 84% rise in consolidated profit after tax of Rs 168 crore as compared to Rs 92 crore in FY22. This was on a 33% increase in FY23 revenue at Rs 1648 crore from Rs 1242 crore in FY22.
The Hyderabad-based company also said that its board of directors has recommended a dividend of Rs 3 per share and an additional special dividend of Rs 2.5 per share on the completion of 25 years.
Cigniti chairman & managing director C V Subramanyam said the company’s revenues had grown by over 32% in comparison to the previous year and margins had also expanded substantially. “Our endeavor to help clients with the digital landscape through a quality-first approach to digital transformation has put us in an enviable position in the global market.”
The company said its revenues from top five clients accounted for nearly 23% of total revenues during Q4FY23 with sectors such as BFSI (banking, financial services & insurance), retail & e-commerce and travel & transport accounting for a chunk of revenues.
Also while North America and Canada accounted for 82.5% of revenues, UK & Europe contributed 8.5% and the rest of the world accounted for 8.9% of revenue, it said.
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