{"id":105342,"date":"2023-05-02T13:11:25","date_gmt":"2023-05-02T13:11:25","guid":{"rendered":"https:\/\/coforge.site\/cigniti_new\/?p=105342"},"modified":"2023-05-02T13:11:25","modified_gmt":"2023-05-02T13:11:25","slug":"cigniti-technologies-reports-the-financial-results-for-q4fy23-and-the-fiscal-year-fy22-23","status":"publish","type":"post","link":"https:\/\/coforge.site\/cigniti_new\/cigniti-technologies-reports-the-financial-results-for-q4fy23-and-the-fiscal-year-fy22-23\/","title":{"rendered":"Cigniti Technologies Reports the Financial Results for Q4FY23 and the Fiscal Year FY22-23"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]<\/p>\n<h4>Consolidated Revenue Rs. 424.97 crores and Net Profit Rs. 49.24 Cr for Q4FY23.<br \/>\nThe Board has Recommended a Dividend of Rs. 3 &amp; an Additional Special Dividend of Rs. 2.50 on the Company&#8217;s Successful Completion of 25 Years.<\/h4>\n<p><strong>Consolidated Financial Performance for FY23 v\/s FY22 (Corresponding Year)<\/strong><\/p>\n<ul>\n<li>Revenue of <strong> 1647.58 <\/strong>crore <em>v\/s.<\/em> <strong>Rs. 1241.80 <\/strong>crore [<strong>32.7<\/strong><strong>%<\/strong>]<\/li>\n<li>Reported EBITDA of <strong>Rs 237.70<\/strong> crore <em>v\/s.<\/em> <strong> 129.28<\/strong> crore [<strong>83.9<\/strong><strong>%<\/strong>]<\/li>\n<li>PAT of <strong> 168.32<\/strong> crore <em>v\/s.<\/em> <strong>Rs. 91.74<\/strong> crore [<strong>83.5<\/strong><strong>%<\/strong>]<\/li>\n<\/ul>\n<p><strong>Consolidated Financial Performance for Q4YF23 v\/s Q4FY22 (Corresponding Year)<\/strong><\/p>\n<ul>\n<li>Revenue of <strong> 424.97 <\/strong>crore <em>v\/s.<\/em> <strong>Rs. 344.08<\/strong> crore [<strong>23.5<\/strong><strong>%<\/strong>]<\/li>\n<li>Reported EBITDA of <strong> 68.37<\/strong> crore <em>v\/s.<\/em> <strong>Rs. 32.61<\/strong> crore [<strong>109.6%<\/strong>]<\/li>\n<li>PAT of <strong> 49.24<\/strong> crore <em>v\/s.<\/em> <strong>Rs. 22.60 <\/strong>crore [<strong>117.9<\/strong><strong>%<\/strong>]<\/li>\n<\/ul>\n<p><strong>Consolidated Financial Performance for Q4FY23 v\/s Q3FY23 (Corresponding Quarter)<\/strong><\/p>\n<ul>\n<li>Revenue of <strong> 424.97 <\/strong>crore <em>v\/s.<\/em> <strong>Rs. 427.99 <\/strong>crore<\/li>\n<li>EBITDA reported of <strong> 68.37<\/strong> crore <em>v\/s.<\/em> <strong>Rs. 64.02<\/strong> crore<\/li>\n<li>PAT of <strong> 49.24 <\/strong>crore <em>v\/s.<\/em> <strong>Rs. 46.55<\/strong> crore<\/li>\n<\/ul>\n<p><strong>Hyderabad<\/strong><strong>, May 02<sup>nd<\/sup>, 2023: <\/strong>Cigniti Technologies Limited, the world\u2019s leading AI &amp; IP-led Digital Assurance and Digital Engineering services company, announced the consolidated financial results for the quarter, and the fiscal year ended March 31<sup>st<\/sup>, 2023.<\/p>\n<p>The company\u2019s reported Net Profit for Q4FY23 stood at Rs. <strong>49.24<\/strong> crore as against Net Profit of Rs. 46.55 crore in Q3FY23.<\/p>\n<p>The Company\u2019s Consolidated Revenue from operations for the quarter under consideration stood at Rs <strong>424.97<\/strong> crore as against Rs 427.99 crore in Q3FY23.<\/p>\n<p>EBITDA margin for the March quarter was at <strong>16.2%<\/strong> and EBITDA stood at <strong>68.37<\/strong> crores, up by <strong>109.6%<\/strong> compared to Q4\u2019FY22.<\/p>\n<p>For the last fiscal year FY22-23, Cigniti Technologies reported total revenue of <strong>Rs. 1647.58 <\/strong>crore, a <strong>32.7<\/strong>% increase over the previous fiscal year. Net profit for the year was <strong>Rs. 168.32<\/strong> crore, representing a <strong>83.5%<\/strong> increase over the previous year.<\/p>\n<p>Commenting on the results,\u00a0<strong>Mr. C V Subramanyam, Chairman &amp; MD<\/strong>,\u00a0said,\u00a0<em>&#8220;<\/em> <em>I am happy that we continued our strong performance in Q4 FY23 and the FY ending March 2023. We have grown by 32% in Revenue in comparison to the previous year and expanded in margins substantially. Consequently, the board has recommended a final dividend of Rs. 3 per share and a special dividend of Rs. 2.50 per share marking the milestone completion of 25 years by the company. Our endeavor to help clients with the digital landscape through a quality-first approach to digital transformation has put us in an enviable position in the Global Market. I am confident we will march ahead and reach newer heights in the years to come.\u201d<\/em><\/p>\n<p><strong>Highlights for the quarter ended March 31, 2023<\/strong><\/p>\n<ul>\n<li>Revenue from the top 5 clients contributed approximately 22.8% of the Revenue<\/li>\n<li>BFSI, Retail &amp; e-commerce and Travel &amp; Transport sectors contributed the most to the revenue for Q4\u2019FY23<\/li>\n<li>Revenue split geographically: North America &amp; Canada \u2013 82.6%, UK &amp; Europe \u2013 8.5%, Rest of the World &#8211; 8.9%.<\/li>\n<\/ul>\n<p><strong>About Cigniti Technologies Limited<\/strong><br \/>\nCigniti Technologies Limited (NSE: CIGNITITEC; BSE: 534758) is the world\u2019s leading AI &amp; IP-led Digital Assurance and Digital Engineering Services Company. Headquartered in Hyderabad, India, Cigniti\u2019s 4100+ employees help Fortune 500 &amp; 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 &amp; Platform-led innovation with expertise across multiple verticals and domains.<\/p>\n<p>To learn more, visit\u00a0<a href=\"https:\/\/coforge.site\/cigniti_new\/\">www.cigniti.com<\/a>.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text css=&#8221;.vc_custom_1675172011457{margin-bottom: 0px !important;border-bottom-width: 0px !important;}&#8221;]<strong><u>For further information, please contact:<\/u><\/strong>[\/vc_column_text][vc_row_inner][vc_column_inner width=&#8221;1\/2&#8243; css=&#8221;.vc_custom_1683032703356{margin-top: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1683032657721{margin-top: 0px !important;}&#8221;]<strong>Gaurangi Veshvikar<\/strong><br \/>\nAdfactors PR<br \/>\nMob: +91 9321923248<br \/>\nEmail: <a href=\"mailto:gaurangi.veshvikar@adfactorspr.com\">gaurangi.veshvikar@adfactorspr.com<\/a>[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text css=&#8221;.vc_custom_1683032663756{margin-top: 0px !important;}&#8221;]<strong>Midhun Pingili<br \/>\n<\/strong>Cigniti Technologies<br \/>\nMob: +91 8886093093<br \/>\nEmail: <a href=\"mailto:midhun.pingili@cigniti.com\">midhun.pingili@cigniti.com<\/a>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text] Consolidated Revenue Rs. 424.97 crores and Net Profit Rs. 49.24 Cr for Q4FY23. The Board has Recommended a Dividend of Rs. 3 &amp; an Additional Special Dividend of Rs. 2.50 on the Company&#8217;s Successful Completion of 25 Years. Consolidated Financial Performance for FY23 v\/s FY22 (Corresponding Year) Revenue of 1647.58 crore v\/s. Rs. 1241.80 [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-105342","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"featured_image_src":{"landsacpe":false,"list":false,"medium":false,"full":false},"_links":{"self":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/posts\/105342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/comments?post=105342"}],"version-history":[{"count":0,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/posts\/105342\/revisions"}],"wp:attachment":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/media?parent=105342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/categories?post=105342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/tags?post=105342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}