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Cigniti Technologies Announces Q2 Financial Results

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

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Cigniti Technologies Limited, an 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 per cent.

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 C V Subramanyam, Chairman & MD said, “Building on our last quarter, I am happy to announce that Cigniti Technologies has maintained steady growth in the 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.”

 


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