Operating profit at Rs 586 million, highest ever quarterly operating profit, an increase of 35% over Rs 435 million for previous quarter and an increase of 28% over Rs 457 million for Q-2 of previous year
- Revenue for the quarter at ` 3,726 million, Y-o-Y growth of 26%, Q-o-Q growth of 7.5%.
- Operating profit at ` 586 million, highest ever quarterly operating profit, an increase of 35% over ` 435 million for previous quarter and an increase of 28% over ` 457 million for Q-2 of previous year
- Operating margin at 15.7% for the quarter, increase of 320 bps over Q-1 and 20 bps over Q-2 of previous year
- Profit after tax at ` 307.4 million for the quarter, an increase of 14.5% over previous quarter
- Strong revenue growth in N&CE and ENGG verticals at 8.1 % and 7.1% respectively over Q-1
- ENGG revenues crossed ` 250 crores in a quarter for the first time and $ 100 million for the first half of this year
- Business momentum and environment continues to be stable in line with the expectations especially in - Aerospace, Heavy equipment, Utilities, Hitech, and Telecom
Commenting on the results, Mr. BVR Mohan Reddy, Chairman and Managing Director, said, "For the quarter, we had strong revenue growth and equally strong margin expansion. We had highest ever revenues and operating profit in a quarter in the history of the company. The growth and margin expansion has been across the verticals and across the geographies. Our focus on operational excellence delivered higher margin for current quarter. ENGG revenues crossed $ 100 million for the first half of this year. Our associate strength crossed 9000 mark, another milestone in the history of the company, after making a net addition of 400 during the quarter.
In spite of the macro-economic challenges, we have not seen any signs of our customers cutting down projects or giving us indications of contraction in business. Next year budgets for outsourcing spend as indicated by our customers is robust.
Order backlog and pipeline have been the best in the history of the company. In the second half of the year, we would hire 1000 additional resources to cater to growing business.
We are aggressively pursuing acquisitions to increase our footprint in geographies. We will continue to focus on operational excellence and are confident of improving margins further in coming quarters.
We will see continued revenue growth and margin expansion in coming quarters but we are taking all our decisions on capital investments, hiring etc. with "cautious optimism"."
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