XT Global Infotech Reports Q2 Results: EBIT Up 22% QoQ, Expands into Australian Market
Xtglobal Infotech announced Q2 FY24 results with revenue of ₹1,799 lakhs, up 1.2% QoQ but down 2.8% YoY. EBITDA increased 14.2% QoQ to ₹288 lakhs, while PAT grew 16% QoQ to ₹176 lakhs. The company secured 11 new clients, entered the Australian market, and declared a 5% interim dividend. Despite global IT sector challenges, Xtglobal focuses on AI-led efficiency and innovation for future growth.

*this image is generated using AI for illustrative purposes only.
Xtglobal Infotech (BSE: 531225, NSE: XTGLOBAL), a publicly listed IT/ITES company, has announced its unaudited standalone financial results for Q2, ending September 30. The company reported steady growth in key financial metrics and strategic expansion into new markets.
Financial Highlights
Xtglobal Infotech's Q2 standalone performance showed resilience amid challenging global market conditions:
| Metric | Q2 (₹ in Lakhs) | QoQ Change | YoY Change |
|---|---|---|---|
| Revenue | 1,799.00 | 1.2% | -2.8% |
| EBITDA | 288.00 | 14.2% | -23.2% |
| EBIT | 214.00 | 22.0% | -27.0% |
| PAT | 176.00 | 16.0% | 4.3% |
| EBITDA Margin | 16.0% | 182 bps | -426 bps |
| EBIT Margin | 11.9% | 203 bps | -394 bps |
| PAT Margin | 9.8% | 125 bps | 66 bps |
Operational Highlights
- New Client Acquisitions: The company secured 11 new client engagements, with 7 in Finance & Accounting Services and 4 in IT Services.
- Australian Market Entry: Xtglobal Infotech commenced operations in Australia, securing two anchor projects related to finance and accounting outsourcing services.
- Madhurawada SEZ Unit Exit: The company completed the exit process for its SEZ unit at Madhurawada, Visakhapatnam, during the quarter.
- Digital Upgrade: A new CRM platform is being deployed to enhance lead visibility, streamline the sales pipeline, and strengthen customer engagement, scheduled to go live in December.
- Interim Dividend: The Board declared an interim dividend of ₹0.05 per equity share (face value ₹1), representing a 5% dividend.
Management Commentary
Mr. Ramarao Mullapudi, CEO, President & Director of Xtglobal Infotech Limited, commented on the results: "At a time when the global technology landscape is going through a significant shift, the Indian IT sector continues to face macroeconomic pressures, tariff constraints in the US, and rising client expectations for AI-led efficiency. Despite these challenges, the sector has displayed resilience, adaptability, and a commitment to creating value."
He added, "Our standalone Q2 performance remained steady, with EBITDA growing 14.2% QoQ and PAT increasing 16% QoQ, supported by healthy margin improvement. Our ability to leverage and scale AI responsibly will be central to accelerating our transition from stability to stronger growth. With a clear focus on innovation, customer priorities, and disciplined execution, we are confident of delivering sustainable value to shareholders."
Future Outlook
Xtglobal Infotech is positioning itself for future growth through strategic initiatives:
- Expansion into the Australian market, tapping into a strong demand for digital and IT services.
- Implementation of a new CRM platform to enhance sales operations and customer engagement.
- Focus on AI-led efficiency to meet evolving client expectations and drive growth.
The company's expansion into Australia and its focus on innovation and customer priorities indicate a strategic approach to navigating the challenging global IT landscape. As Xtglobal Infotech continues to adapt to market demands and leverage new technologies, investors and stakeholders will be watching closely to see how these initiatives translate into long-term value creation.
Historical Stock Returns for Xtglobal Infotech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.62% | +0.52% | +3.58% | +10.71% | -8.08% | -22.84% |




































