InfoBeans Posts Stellar Q1 Results

By India Education Diary Bureau Admin On Aug 10, 2020

Pune: IT Services company InfoBeans Technologies Limited (NSE: INFOBEAN) reported 63% growth in net profit for the quarter ended 30th June, 2020 at Rs 7.6 crore and revenues of Rs 50.4 crore, also up 63%.

IT Services company InfoBeans Technologies Limited (NSE: INFOBEAN) reported 63% growth in net profit for the quarter ended 30th June, 2020 at Rs 7.6 crore and revenues of Rs 50.4 crore, also up 63%.

The company’s commitment to its people and customers along with fiscal prudence is helping it navigate the unprecedented and challenging times of the COVID pandemic.

“Revenue growth is primarily through acquisition of Philosophie that we made in September 2019. Profit and EBITDA growth is due to cost efficiency measures we undertook during COVID and due to zero travel and reduced facilities cost,” said Avinash Sethi, co-founder, InfoBeans.

Here are the major highlights of InfoBeans FY 20-21 Q1 results:

(in Crores) June 2020 June 2019 YoY Growth Mar 2020
Revenue 50.4 30.9 63% 48.2
EBITDA 14.1 7.0 101% 9.5
PAT 7.6 4.6 63% 1.6
Rising Revenue
The total revenue of INR 50.4 crores is a significant rise of 63% y-o-y from INR 30.9 crores reported in June 2019. In comparison with last quarter, it grew around 5% from INR 48.2 crores. Note that last year’s numbers do not include its recently acquired subsidiary Philosophie Group Inc.

EBITDA shot up
EBITDA shot up by 101% percent y-o-y to INR 14.1 crores as against INR 7.0 crores in the quarter ending June of 2019.

‘PAT’ on the back
The year-on-year growth in net profit is also 63%, from INR 4.7 crores in June 2019 to INR 7.6 crores in June 2020. The company reported a healthy 15% PAT margin, a steep jump from the 3% PAT margin it achieved in the quarter ended March 2020 when it reported INR 1.4 crores in PAT.

Cost efficiency
In the earlier phase of the Covid-19 outbreak, the founders realized the fact that it will impact the company’s growth plans, at least in the upcoming quarters. Thus the company proactively took select cost-effective measures and managed to maintain a healthy bottom line that gave it strength to weather uncertain times in future.