Cigniti Technologies Q2FY23 Results

Consolidated Revenue Rs. 416.65 crores and Net Profit Rs. 41.53 Cr

Standalone Revenue Rs. 172.64 crores and Net Profit Rs. 26.09 Cr

Consolidated Financial Performance for Q2YF23 v/s Q2FY22 (Corresponding Year)   ·         Revenue of Rs. 416.65 crore v/s. Rs. 307.90 crore [ 35%] ·         Reported EBITDA of Rs. 60.76 crore v/s. Rs. 31.92 crore [ 90%] ·         PAT of Rs. 42.53 crore v/s. Rs. 22.17 crore [87%]     Consolidated Financial Performance for Q2FY23 v/s Q1FY23 (Corresponding Quarter) ·         Revenue of Rs. 416.65 crore v/s. Rs. 377.97 crore [ 10%] ·         EBITDA reported of Rs. 60.76 crore v/s. Rs. 44.55 crore [36%] ·         PAT of Rs. 42.53 crore v/s. Rs. 31.00 crore [34%]

Consolidated Financial Performance for H1FY23 v/s H1FY22 (Corresponding Year)   ·         Revenue of Rs. 794.63 crore v/s. Rs. 572.26 crore [39%] ·         EBITDA of Rs. 105.31 crore v/s. Rs. 56.23 crore [87%] ·         PAT of Rs. 72.53 crore v/s. Rs. 42.59 crore [70%]

Hyderabad, October 20, 2022: Cigniti Technologies Limited, world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, announced the consolidated financial results for the quarter ended September 30, 2022.

The company’s reported Net Profit for Q2FY23 stood at Rs 42.53 crore as against Net Profit of Rs 31.00 crore in Q1FY23.

The Company’s Consolidated Revenue from operations for the quarter under consideration increased by 10% to Rs. 416.65 crore as against Rs. 377.97 crore in Q1FY23.

EBIDTA reported for the quarter ended September 30, 2022, stood at Rs. 60.76 crore up by 36% compared to Q1FY23.

Management Commentary

Commenting on the results, Mr. C V Subramanyam, Chairman & MD, said, "In the second quarter, Cigniti Technologies ably demonstrated its sustained growth across the verticals, highlighted by our strong Net Profit growth of 10.2%. I am confident that we will continue this growth momentum for the next few quarters.

I am happy to update that the unveiling of our company's new brand identity has revitalized our efforts to surpass all past expectations. This quarter also witnessed Cigniti Technologies being honored with the 'Outstanding Contributor to the Indo-US Corridor’ award. This is an outcome of the spirited efforts demonstrated by all the Cignitians, propelling us to the forefront of digital transformation in a leading tech-driven market such as the USA.”

Highlights for the quarter ended September 30, 2022

·         Revenue from the top 5 clients contributed approximately 23.16% of the Revenue

·         BFSI, Retail & e-commerce and Travel & Transport sectors contributed the most to the revenue for Q2FY23

·         Revenue split geographically: North America & Canada – 85%, UK & Europe – 8%, Rest of the World 7%.

About Cigniti Technologies Limited:

Cigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the World’s Leading AI & IP-led Digital Assurance and Digital Engineering Services Company. Headquartered in Hyderabad, India, Cigniti’s 4100+ employees help Fortune 500 & Global 2000 enterprises across 24 countries accelerate their digital transformation journey across various stages of digital adoption and help them achieve market leadership by providing transformation services leveraging IP & Platform-led innovation with expertise across multiple verticals and domains.

To learn more, visit www.cigniti.com.