Mumba: Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the quarter ended December 31, 2020.

The company’s reported Net Profit for Q3FY21 stood at Rs 26.35 crore as against Net Profit of Rs 25.22 crore in Q2FY21.

The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 223.90 crore as against Rs 221.20 crore in Q2FY21.

EBIDTA for the December quarter was at Rs 31.94 crore and EBIDTA margin stood at 14.3%. Reduction in EBITDA is on account of rollback of payroll cut which was in force for the H1’FY 2020-21.

Management Commentary

Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “Q3FY21 has been a successful quarter for the company with promising numbers and sustained growth. We plan on capitalizing on this momentum going forward.  The COVID-19 pandemic led to technological disruptions, thus paving the way for us towards investment and growth opportunities. I would like to extend my gratitude to our dedicated employees, clients and customers for their unwavering support in these challenging times. For the coming quarter we expect the Union Budget to positively have provisions to incentivize the IT and Technology sector. Overall, I feel the next phase of implementation will only take place once the industry has settled down and assessed the overall impact of the pandemic.”

Highlights for the quarter ended December 31, 2020

·         Revenue from top 5 clients contributed approximately 22.2% of the Revenue

·         BFSI, Retail & e-Commerce and Travel & Transport sectors contributed the most to the revenue for Q3FY21

·         Revenue split geographically: North America & Canada – 88%, UK & Europe – 7%, Rest of the World 5%