Revenue up 11% YoY, Signs TCV of $274 M in Q2
Pune, November 06, 2020: Birlasoft , a part of the USD 2.4 billion diversified CK Birla Group, reported its unaudited consolidated financial results for the second quarter ended September 30, 2020.
Dharmender Kapoor, Chief Executive Officer and Managing Director, Birlasoft, said, “Our Q2 results are a testimony to the trust that our customers have in our executional capabilities. Despite the challenging times, we have seen a positive outcome across key performance parameters such as profit, margins, utilization, deal wins, receivables, attrition, among others. With a consistent and strong record of TCV deal wins in H1 combined with a healthy pipeline, we are confident about further growth in revenues as we enter the second half of FY21. We will continue to focus on being a trusted partner to our clients and build long term sustainable growth.”
Key Financial highlights for Q2 FY21
Other Highlights
- Signed TCV deals of $ 273.9 M during the quarter
o Total TCV deal wins for H1’FY21 at $ 454 M
- The Board declares an interim dividend of Rs. 1/- per share (Face Value Rs 2/-)
- Active Client Count at 310
o > $10 M customers at 9; up 4 YoY & 1 QoQ; > $ 5 M customer at 20; up by 3, QoQ
o Cash & equivalents at $ 124.3 M (Rs 917 Cr), vs $108.8 M in Q1; up $15.5 M QoQ
- DSO of 58 days, down by 23 days YoY and 2 days QoQ
- Manpower strength of 10,010 as at 30th September 2020 versus 9,908 in Q1’FY21
o Added 102 professionals QoQ
o Attrition at 11.4% in Q2’ FY21 versus to 22.5% in Q2’FY20 & 16.5% in Q1’FY21
Deal Wins for the Quarter
- Selected by a European Energy major to provide remote Infrastructure and global helpdesk support.
- Selected by a Global Roofing major for upgrading its legacy ERP by implementation, roll out and support of J D Edwards Enterprise ERP stack across Canada and Europe.
- Won a multi-year ERP Annual Maintenance Services & Support deal from a leading European Specialists Material Company.
- Chosen by a Global Solution major for its Oracle and associated Application Management Support Services.
- Selected by a European Engineering major for Application Managed support and Services for SAP solutions.
- Selected by a US Healthcare major for providing Application Development, Data and Analytics Support
- Won from a US Diversified major for providing upgrades and roll-out of Infor ERP
- Selected by a European Auto major for providing Application lifecycle management (ALM) support and services
Business Highlights & Recognition
- Birlasoft named a Top 15 Sourcing Standout by ISG – Global and Americas Regions (2Q 2020 Global ISG IndexTM)
- Birlasoft has launched intelliOpen™ – an integrated digital solution using IoT, Analytics, AI, and wearables to strengthen return-to-work strategies, and support companies to restart and operate businesses with confidence.
- Birlasoft and Actifio Partners to Provide Next-Generation Infrastructure, Cloud Technology Services to Global Enterprise Customers.
- Birlasoft announced a Global Strategic Cloud Alliance with Microsoft to help its clients to accelerate their digital journey. The collaboration is strategically positioned to support its enterprise clients with their cloud transformation needs, right from infrastructure to business applications.
- Birlasoft inks MoU with Chandigarh University to enhance employability skills of the Engineering Students
Corporate Comm India (CCI Newswire)
