BirlaSoft - Sustained Improvement In Margins Expected Going Forward: ICICI Direct
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ICICI Direct Report
Birlasoft Ltd.’s dollar revenues increased 3.3% QoQ (up 2.3% YoY) to $119.5 million, mainly led by healthy growth across verticals.
The manufacturing vertical increased 2.9% QoQ, banking financial services and insurance up 3.4% QoQ, life science up 5.1% QoQ.
Ebitda margin increased 247 QoQ (up 350 basis points YoY) to 16.4% mainly led by higher utilisation and selling general and administrative rationalisation.
Profit after tax increased 39.4% QoQ (up 32.6% YoY) mainly led by higher operating margins and lower tax rate.
The company has migrated to the new tax regime in the current quarter.
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