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InfoBeans Technologies Limited — Earnings Release 2024
Jan 24, 2024
61086_rns_2024-01-24_14b465d8-1eca-411d-9815-58d7e92b4edd.pdf
Earnings Release
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| To, | Date: 24th January, 2024 |
|---|---|
| The Listing and Compliance Department, National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G block, Bandra Kurla Complex, Bandra East, Mumbai – 400051 Script Code: SM – INFOBEAN |
The Manager, Listing Dept. BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001 MH- IN SYMBOL: INFOBEAN Scrip Code: 543644 |
Subject : Press Release
Dear Sir/Madam,
Please find attached press release announcing the results of the quarter ended on 31[st] December, 2023.
You are requested to please take the same on your records.
Thanking You Yours Faithfully
Enclosed: Press Release
For InfoBeans Technologies Ltd
Digitally signed by Surbhi Jain Surbhi Jain Date: 2024.01.24 17:26:09 +05'30'
Surbhi Jain
Company Secretary and Compliance Officer
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InfoBeans announces stable results for the quarter ending Dec 2023
InfoBeans Technologies Limited (NSE:INFOBEAN, BSE:543644), a global digital transformation company, announced its financial results for the quarter and nine months ending December 2023. Here are the major highlights
| ₹ in crores | Dec 2023 | Dec 2022 | YoY Change |
Sep 2023 | QoQ Change |
|---|---|---|---|---|---|
| Revenue | ₹ 94 | ₹ 102 | -8% | ₹ 95 | -1% |
| EBITDA | ₹ 16 | ₹ 23 | -30% | ₹ 15 | 3% |
| PAT | ₹ 6 | ₹ 9 | -40% | ₹ 4 | 32% |
In USD terms, revenue declined by 2% QoQ
InfoBeans performance remained stable on a quarterly basis with a marginal improvement in the margins on account of cost optimization. Discussing the Q2 2023 performance, Avinash Sethi, Co-founder, InfoBeans said “We have added around 27 team members in December 2023, indicating that the demand is picking up again. Also, we are happy to share that we have entered into a very important partnership with agineo, a german based ServiceNow elite partner which will help us grow into the European market”
InfoBeans continues to invest aggressively in sales e�orts, high growth teams and continues to focus on large enterprise clients. InfoBeans onboarded 6 new large enterprises in the last quarter.
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About InfoBeans
InfoBeans (NSE:INFOBEAN, BSE:543644), founded in 2000 and now 1450+ strong team, is a global software firm providing Digital transformation and Product Engineering services. It strives to deliver exceptional value to its clients using the best software technologies while solving their complex business problems. Strengthened by its partnership with Salesforce, ServiceNow, Creatio, Automattic and Mendix. Its services enable corporations to digitally transform their businesses and gain competitive advantage.
Investor Relations Contact: Mridul Maheshwari [email protected]