Datamatics Q2FY24 Revenue up 9.7% YoY to ₹ 376.8 crore; PAT up by 23.3% YoY to ₹ 49.3 crore

Nov 2, 2023 3:03:30 PM

Q2FY24 Revenue up 9.7% YoY to ₹ 376.8 crore; PAT up by 23.3% YoY to ₹ 49.3 crore

2nd November 2023, Mumbai: Datamatics Global Services Ltd. (DGSL), a global Digital Technologies, Operations, and Experiences company, announced its standalone and consolidated financial results for the second quarter and half year ended September 30, 2023.

Commenting on Q2FY24 results, Rahul Kanodia, Vice Chairman and CEO, said, "We are pleased to report a revenue growth of 14.6% and a notable improvement in our EBIT margin, which has risen to 14.1% from the previous year's 12.3% for H1FY24. In Q2FY24, we have achieved a year-over-year revenue growth of 9.7% and an EBIT growth of 15.7%. However, on a sequential basis, there was a slight decrease in both revenue and EBIT. Nevertheless, our deal pipeline has seen a healthy growth and remains strong for the year.”

He added, "As part of our AI-first strategy, we have integrated Generative AI capabilities into our Intelligent Automation products, consisting of TruBot, TruCap+ and TruBI. We have launched a range of GenAI-powered solutions, such as Enterprise Content Mining, Virtual Assistants, Financial Data Analytics, and Revenue Operations, and we are showcasing them at some of the World's leading IT shows across the US and Europe."

Key Financial Highlights – Q2FY24

Particulars (₹ in Crore) Q2 FY24 Q2 FY23 YoY % Q1 FY24 QoQ %
Revenue from Operations 376.8 343.4 9.7% 391.1 (3.7%)
EBITDA 58.9 51.7 14.1% 67.8 (13.1%)
EBITDA Margin % 15.6% 15.0% 60 bps 17.3% (169bps)
EBIT 49.6 42.9 15.7% 58.6 (15.4%)
EBIT Margin % 13.2% 12.5% 68bps 15.0% (183bps)
PBT 58.6 51.5 13.6% 67.2 (12.9%)
PAT (After NCI) 49.3 40.0 23.3% 55.1 (10.6%))
PAT Margin % 12.8% 11.3% 144bps 13.8% (101bps))
EPS (Basic & Diluted) (₹) 8.36 6.78 23.3% 9.34 (10.6%)


Key Financial Highlights – H1FY24

Particulars (₹ in Crore)      H1 FY24      H1 FY23           YoY %
Revenue from Operations 767.9 670.3 14.6%
EBITDA 126.7 99.5 27.4%
EBITDA Margin % 16.5% 14.8% 166bps
EBIT 108.2 82.1 31.7%
EBIT Margin % 14.1% 12.3% 183bps
PBT 125.8 103.1 22.0%
PAT (After NCI) 104.3 83.4 25.2%
PAT Margin % 13.3% 12.0% 124bps
EPS (Diluted) (₹) 17.70 14.14 25.2%


Balance Sheet Highlights (₹ in Crore) H1FY24 FY23 FY22

Total Cash & Investments (net of debt)

580.5 498.2 428.4
DSO (Days) 60 67 74


Operational Highlights

  • Datamatics unveils cutting-edge Generative AI-powered solutions at Gartner IT Symposium 2023 in the USA & Europe
  • Datamatics TruCap+ IDP platform now available in the Microsoft Azure Marketplace.
  • Datamatics introduces FINATO to drive Finance Transformation in global enterprises.
  • Datamatics witnessed premature closure of a large project with a customer. Datamatics continues to engage with the customer on multiple ongoing and new projects.
  • Datamatics implements Automatic Fare Collection (AFC) and Mobile Ticketing Systems for India's 1st Namo Bharat RapidX train for Delhi-Meerut RRTS Corridor by NCRTC, flagged off by Honourable Prime Minister Shri Narendra Modi.
  • Datamatics TruFare Automatic Fare Collection enables Memphis Area Transit Authority (MATA) with next generation fare ticketing system, elevating the commuter experience.
  • A leading US based logistics provider selects Datamatics for Digital Finance.
  • A multinational automotive manufacturing company selects Datamatics for automating finance function.
  • An engineering and applied technology company in US selects Datamatics for low-code enterprise application development.
  • A US based quality assurance company selects Datamatics for next generation digital services.

Analyst Coverage

  • Everest Group recognizes Datamatics as a 'Major Contender' in Finance and Accounting Outsourcing (FAO) PEAK Matrix® Assessment 2023
  • HFS recognizes Datamatics as a 'Disruptor' in Horizons: Finance & Accounting Service Providers, 2023
  • Quadrant recognizes Datamatics as a 'Technology Leader' in SPARK Matrix™ for Intelligent Process Automation (IPA) Services, 2023
  • Quadrant recognizes Datamatics as a 'Technology Leader' in SPARK Matrix™ for Data Management and Analytics Services, 2023
  • Nelson Hall recognizes Datamatics as a 'Major Player' in Intelligent Automation in Banking NEAT
  • Avasant recognizes Datamatics as a Challenger in Application Modernization Services 2023 RadarView™
  • Everest Group recognizes Datamatics as an 'Aspirant' in Customer Experience Management (CXM) Services PEAK Matrix® Assessment 2023 for Americas

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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