Datamatics Q1FY24 Revenue up 19.6% YoY to ₹ 391.1 crore; EBIT up by 49.2% YoY to ₹ 58.6 crore

Aug 10, 2023 3:51:43 PM

Datamatics Q1FY24 Revenue up 19.6% YoY to ₹ 391.1 crore; EBIT up by 49.2% YoY to ₹ 58.6 crore

10th August, 2023, Mumbai: Datamatics Global Services Ltd. (DGSL), a global Digital Technologies, Operations, and Experiences company, today announced its standalone and consolidated financial results for the first quarter that ended June 30, 2023.

Commenting on Q1FY24 results, Rahul Kanodia, Vice Chairman and CEO, said, “Datamatics has performed well in terms of Revenue, EBIT, and PAT in Q1FY24. Our revenue increased by 19.6%, EBIT witnessed a growth of 49.2%, and PAT increased by 26.9% on a Year-on-Year basis. We are happy to see your Company moving in the right direction.” 

He added, “Artificial Intelligence is transforming how we live and conduct our businesses. We have been investing in our AI capabilities, and Generative AI has only redoubled those efforts. We are constantly incorporating AI in our Technologies, Operations, Experiences, and Products businesses. It reflects our commitment to enable our customers to go Deep in Digital in their transformation journey”.

Key Financial Highlights – Q1FY24

Particulars (₹ in Crore) Q1 FY24 Q1 FY23 YoY % Q4 FY23 QoQ %
Revenue from Operations 391.1 326.9 19.6% 416.3 (6.1%)
EBITDA 67.8 47.8 41.8% 84.1 (19.4%)
EBITDA Margin % 17.3% 14.6% 270bps 20.2% (288bps)
EBIT 58.6 39.3 49.2% 75.3 (22.2%)
EBIT Margin % 15.0% 12.0% 297bps 18.1% (310bps)
PBT 67.2 51.6 30.3% 80.1 (16.1%)
PAT (After NCI) 55.1 43.4 26.9% 59.7 (7.8%))
PAT Margin % 13.8% 12.8% 100bps 14.2% (40bps))
EPS (Basic & Diluted) (₹) 9.34 7.36 26.9% 10.13 (7.8%)


Balance Sheet Highlights (₹ in Crore) Q1FY24 FY23 FY22

Total Cash & Investments (net of debt)

555.0 498.2 428.4
DSO (Days) 60 67 74


Operational Highlights

  • Datamatics is incorporating AI across all three lines of business – Digital Technologies, Digital Operations, and Digital Experiences. Key initiatives undertaken are:
    • In Digital Technologies, the team is implementing AI-enabled co-pilot development to improve productivity across all stages of the software development lifecycle.
    • Datamatics has enhanced products TruBot RPA and TruCap+ IDP with Generative AI. It will deliver enhanced benefits of automation and productivity for the customers.
    • In Digital Operations, Datamatics has implemented AI in the Enterprise Document Management domain. Today, Datamatics is processing 15 million Annual Report pages for global credit rating and analysis firms using AI-powered structured finance processing. Datamatics sees opportunities to increase productivity across Digital Operations business.
    • In Digital Experiences, the team has built an AI-enabled Customer Service Chatbot for L1 & L2 support, delivering a high-level omnichannel customer experience. 
    • Datamatics is investing in establishing a robust AI Centre of Excellence (CoE). The CoE aims to enable enterprises to build and implement their personalized enterprise-wide AI roadmap. The CoE has built multiple AI accelerators in automation, software coding, customer experience (CX), and employee experience (EX) to speed up AI implementation.

  • A leading private bank in the Middle East selects Datamatics for next-generation digital services.
  • A global fashion accessories manufacturer and retailer selects Datamatics TruCap+ IDP for automating data collection process.
  • A European health service provider selects Datamatics for a multi-year contract for Datamatics Intelligent Automation platform.
  • A European leader in quality assurance services selects Datamatics for Salesforce implementation.
  • Datamatics achieves highest maturity level 5 of CMMI for Software Development and BPM Services

Analyst Coverage

  • Gartner recognizes Datamatics for second consecutive year in the 2023 Gartner® Magic Quadrant™ for Finance and Accounting BPO Services
  • Everest Group recognizes Datamatics TruCap+ as a ‘Major Contender’ in Intelligent Document Processing (IDP) & Unstructured Document Processing PEAK Matrix® report 2023
  • IDC recognizes Datamatics as “Major Player” in MarketScape: Worldwide Finance & Accounting Business Process Services in the cloud 2023 Vendor Analysis
  • Everest Group recognizes Datamatics as “Major Contender” in Life and Annuities (L&A) Insurance BPS and Third-Party Administrator (TPA) PEAK Matrix® Assessment 2023
  • Everest Group recognizes Datamatics as “Major Contender” in Banking Operations – Services PEAK Matrix® Assessment 2023
  • Quadrant recognizes Datamatics as “Strong Contender” in SPARK Matrix: Contact Center Outsourcing Services, Q2 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

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

Asha Gupta

Investor Relation Practice, E&Y LLP

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