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Cigniti Technologies Consolidated Q2FY20 Revenue Marked at Rs. 215 Crores With Net Profit at Rs. 36 Cr

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Cigniti Technologies Limited, a global independent quality engineering and software testing services, announced the consolidated financial results for the second quarter ended September 30, 2019.

The company’s Net Profit for Q2FY20 stood at Rs. 35.72 crore on a consolidated basis.

The Company’s Revenue from operations for the quarter under consideration stood at Rs. 214.60 crore as against Rs. 204.96 crore in Q2FY19 on a consolidated basis.

EBIDTA for the September quarter was at Rs. 36.87 crore and EBIDTA margin stood at 17%.

Other income includes Net foreign exchange gain of Rs. 684.12 lakhs and export incentive of Rs. 1,646.23 lakhs pertaining to the period from April 2015 to September 2018 recognized in the quarter ended September 30, 2018 based on the duty scrips grant received/receivables.

Commenting on the results Mr. C V Subramanyam, Chairman & MD said, ““Building on our last quarter, I am happy to announce that Cigniti Technologies has maintained a steady growth in second quarter, in an uncertain market scenario. This quarter is evident of our company’s DNA and commitment to implement strategies to enhance revenue organically, acquire new business enterprises and expand geographically. We continuously look avenues to add value to our customers and become problem solvers for them. We are dedicated to give the best to our share-holders and continue to maintain a healthy uptick on maintaining our revenues, profits and losses.”

Highlights for the quarter ended September 30, 2019

  • Revenue from top 5 clients contributed approximately 20.5% of the Revenue
  • Travel, Transport, Health Care & BFSI sector contributed the most to the revenue for Q2FY20
  • Revenue split geographically: North America & Canada – 85%, UK & Europe – 10%, Rest of the World 5%

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