Datamatics 9MFY24 Revenue up 9.0% YoY to ₹ 1,137.2 crore; EBIT up by 14.8% YoY to ₹ 151.9 crore
9th February 2024, Mumbai: Datamatics Global Services Ltd. (DGSL), a global Digital Technologies, Operations, and Experiences company, announced its standalone and consolidated financial results for the third quarter and nine month ended December 31, 2023.
Commenting on Q3FY24 results, Rahul Kanodia, Vice Chairman and CEO, said, "During the traditionally soft quarter for Datamatics, our Q3 revenues decreased by 0.9% compared to the same period last year. This was mainly due to the slow decision-making of large deals in Western markets. Nevertheless, we continue to add new customers at a steady rate.”
He further added, "We are happy to be in Forbes Asia 200 Best Under A Billion Companies prestigious list. The list comprises the top 1% of 20,000 listed companies in Asia. It is a recognition of our outstanding corporate performance over the years. I take this opportunity to thank all our stakeholders, including employees, customers, and shareholders, for being an integral part of the journey."
Key Financial Highlights – Q3FY24
| Particulars (₹ in Crore) |
Q3 FY24 |
Q3 FY23 |
YoY % |
Q2FY24 |
QoQ % |
| Revenue from Operations |
369.3 |
372.6 |
(0.9%) |
376.8 |
(2.0%) |
| EBITDA |
52.6 |
59.0 |
(10.7) |
58.9 |
(10.7%) |
| EBITDA Margin % |
14.3% |
15.8% |
(157Bps) |
15.6% |
(138Bps) |
| EBIT |
43.7 |
50.2 |
(12.9%) |
49.6 |
(11.9%) |
| EBIT Margin % |
11.8% |
13.5% |
(164Bps) |
13.2% |
(133Bps) |
| PBT |
53.8 |
60.2 |
(10.8%) |
58.6 |
(8.2%) |
| PAT (After NCI) |
41.3 |
45.9 |
(10.0%) |
49.3 |
(16.2%) |
| PAT Margin % |
10.9% |
12.0% |
(110Bps) |
12.8% |
(188Bps)) |
| EPS (Diluted) (₹) |
7.01 |
7.78 |
(10.0%) |
8.36 |
(16.2%) |
Key Financial Highlights – 9MFY24
| Particulars (₹ in Crore) |
9M FY24 |
9M FY23 |
YoY % |
| Revenue from Operations |
1,137.2 |
1,042.9 |
9.0% |
| EBITDA |
179.3 |
158.4 |
13.2% |
| EBITDA Margin % |
15.8% |
15.2% |
58Bps |
| EBIT |
151.9 |
132.3 |
14.8% |
| EBIT Margin % |
13.4% |
12.7% |
67Bps |
| PBT |
179.5 |
163.3 |
9.9% |
| PAT (After NCI) |
145.6 |
129.2 |
12.7% |
| PAT Margin % |
12.5% |
12.0% |
48Bps |
| EPS (Diluted) (₹) |
24.71 |
21.92 |
12.7% |
| Balance Sheet Highlights (₹ in Crore) |
9MFY24 |
FY23 |
FY22 |
|
Total Cash & Investments (net of debt)
|
594.7 |
498.2 |
428.4 |
| DSO (Days) |
60 |
67 |
74 |
Operational Highlights
- Datamatics TruBot RPA empanelled by UK’s National Health Services (NHS) Shared Business Services.
- A US-based financial services company selects Datamatics to enable them to go deep into digital experiences with cutting-edge technology.
- A US-based market research firm selects Datamatics for data management and analytics services.
- A US-based digital solutions company chooses Datamatics to provide customer management services by leveraging digital technologies.
- A global healthcare company selects Datamatics to transform digital finance operations.
- A global engineering company selects Datamatics for legacy application modernization.
- Datamatics introduces TruCap+ Marketplace, speeding up the time-to-automation for Intelligent Document Processing by up to 70%.
- Datamatics and OutSystems forge strategic partnership to drive high-performance low-code application development.
Analyst Coverage
- IDC recognizes Datamatics as a ‘Major Player' in IDC MarketScape: 2023 Worldwide Intelligent Document Processing (IDP) Software Vendors.
- Forrester recognizes Datamatics in the Cash Management Solutions Landscape Q4 2023.
- Everest Group recognizes Datamatics as a 'Major Contender' in Robotic Process Automation (RPA) – Technology Provider Compendium 2023.
- Everest Group recognizes Datamatics as a 'Major Contender' in Data & Analytics Services for Mid-Market Enterprises Peak Matrix assessment 2023.
- Quadrant recognizes Datamatics as a 'Technology Leader' in Quadrant SPARK Matrix™: Robotic Process Automation, 2023.
- Quadrant recognizes Datamatics as a 'Technology Leader' in Quadrant SPARK Matrix™: Intelligent Document Processing, Q4 2023.
About Datamatics Global Services Limited
Datamatics (BSE: 532528 | NSE: DATAMATICS) a Digital Technology, Operations, and Experiences company that provides intelligent solutions for data-driven businesses to increase productivity and enhance the customer experience. With a complete digital approach, Datamatics portfolio spans across Digital Technology Solutions, Business Process Management and Engineering Services powered by Artificial Intelligence. It has established products in Robotic Process Automation, Intelligent Document Processing, Business Intelligence and Automated Fare Collection. Datamatics does business with global customers across Banking, Financial Services, Insurance, Healthcare, Manufacturing, International Organizations, and Media & Publishing. The Company has presence across 4 continents with major delivery centers in the USA, India, and Philippines. Lumina Datamatics, is a key player in the Publishing and e-Commerce BPM space, has delivery centers in the USA and India. To know more about Datamatics, visit www.datamatics.com
Safe Harbour
Some of the statements in this update that are not historical facts are forward-looking statements. These forward-looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concerning our business and the markets in which we operate. These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward-looking statements. These risks include, but are not limited to, the level of market demand for our services, the highly-competitive market for the types of services that we offer, market conditions that could cause our customers to reduce their spending for our services, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and other risks not specifically mentioned herein but those that are common to industry.
For media queries, please contact:
Amit Nagarseker
Marketing & Corporate Communications
amit.nagarseker@datamatics.com
Asha Gupta
Investor Relation Practice, E&Y LLP
Asha.Gupta@in.ey.com
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