InfoBeans Technologies Limited, an Information Technology services company, has announced its financial results for the quarter and nine months ended December 31, showcasing significant growth in profitability despite mixed revenue performance.

Consolidated Performance

For the nine-month period, InfoBeans Technologies reported a substantial increase in consolidated net profit, which surged by 107.6% to ₹27.47 crore, up from ₹13.23 crore in the corresponding period of the previous year. This impressive bottom-line growth was accompanied by a 7.4% rise in consolidated revenue, reaching ₹291.56 crore compared to ₹271.58 crore in the same period last year.

Quarterly Results

On a quarter-to-quarter basis, the company's performance showed some fluctuations:

While the quarterly consolidated revenue of ₹96.33 crore showed a slight decline of 2% compared to the previous quarter (₹98.27 crore), it represented an 8.1% increase year-over-year from ₹89.10 crore. The quarterly net profit of ₹7.06 crore, however, decreased by 44.2% sequentially but improved by 27% compared to the same quarter last year.

Standalone Performance

On a standalone basis, InfoBeans Technologies reported:

• Quarterly revenue of ₹68.37 crore, down 3.1% from ₹70.53 crore in the previous quarter but up 20.1% from ₹56.94 crore year-over-year.
• Quarterly net profit of ₹7.97 crore, compared to ₹14.69 crore in the previous quarter and ₹5.02 crore in the same quarter last year.
• Nine-month standalone revenue increased to ₹205.22 crore from ₹170.79 crore in the previous year, a growth of 20.2%.
• Nine-month standalone net profit more than doubled to ₹34.07 crore from ₹14.22 crore, marking a significant 139.6% increase.

Earnings Per Share

The company's improved profitability is reflected in its earnings per share (EPS) figures. The basic EPS on a consolidated basis for the nine-month period stood at ₹11.28, more than doubling from ₹5.45 in the previous year, representing a 107% increase.

InfoBeans Technologies' financial results demonstrate strong profit growth and improved revenue performance over the nine-month period, despite some quarterly fluctuations. The significant increase in profitability, particularly on a consolidated basis, suggests effective cost management and potentially improved operational efficiency in the company's IT services segment.

InfoBeans Technologies Limited (NSE: SM-INFOBEAN, BSE: 543644) has reported robust financial results for the first quarter, showcasing significant growth in revenue and profitability.

Financial Highlights

• Revenue from operations stood at ₹118.00 crore, with an additional ₹6.00 crore from US government employee retention credit, bringing the total revenue to ₹124.00 crore.
• EBITDA grew by 58% year-over-year to ₹30.00 crore, with EBITDA margin improving from 19% to 25%.
• Profit After Tax (PAT) increased substantially from ₹8.00 crore to ₹23.00 crore year-over-year.

Key Developments

• The company is transitioning from a digital transformation company to an AI-led data engineering company, focusing on three key technology areas: AI-led engineering, Salesforce, and ServiceNow.
• InfoBeans has expanded its geographic presence, with revenue contributions as follows:
  • USA: 57%
  • Europe: 28%
  • UAE: 9%
  • Rest of the world: 6%
• The company has grown its team to over 1,450 employees and onboarded six new clients during the quarter.
• InfoBeans completed a ₹10.00 crore buyback without promoter participation and announced a dividend with a record date of July 25th.

Strategic Focus

Avinash Sethi, Co-founder of InfoBeans, emphasized the company's strategic shift, stating, "We are now focusing on three main technology areas: AI-led engineering, Salesforce, and ServiceNow. We are also concentrating on two business verticals: BFSI and storage and virtualizations."

Operational Updates

• The company has closed its Vadodara office and now operates from four Indian offices (Indore, Pune, Chennai, Bangalore) and international locations in Frankfurt, Dubai, Silicon Valley, and New York.
• InfoBeans is investing in AI and data technology partnerships, including with companies like Databricks and Microsoft Azure.
• The company has developed in-house accelerators, Stanza and Expona, which are being deployed to clients and showing positive outcomes.

Market Performance

As of June 30, InfoBeans' market price was ₹379.00, with a market capitalization of ₹900.00 crore. The promoter shareholding stood at 74.4%, with public shareholding at 25.6%.

Siddharth Sethi, Co-founder, commented on the company's AI-first strategy, saying, "We have taken a very conscious effort in the last two and three quarters to make sure that our AI strategy, our AI implementations really take off, not only to reduce cost, which is of course a very primary aspect, but also to help us increase revenue."

InfoBeans Technologies continues to focus on long-term client relationships, with over 95% customer retention. The company remains optimistic about its growth trajectory, leveraging its strengths in AI, ServiceNow, and Salesforce to drive future expansion and profitability.

Financial Performance

The company's strong performance in Q1 sets a positive tone for the fiscal year, with management expressing confidence in maintaining growth momentum and exploring potential acquisition opportunities to further enhance its market position.