Shares of Birlasoft Ltd slipped in Wednesday's trade after the company recorded lower profit and revenue growth on a sequential basis. Consolidated profit during the first quarter of ongoing financial year 2024-25 (Q1 FY25) came at Rs 150.2 crore, down 16.59 per cent from Rs 180.08 crore in the previous quarter (Q4 FY24).
However, the company's profit climbed by 9.24 per cent on a year-on-year (YoY) basis in Q1 FY25 as against Rs 137.5 crore in year-ago period.
During the quarter under review, revenue from operations also slipped 2.58 per cent, sequentially, to Rs 1,327.43 crore compared to Rs 1,362.54 crore in the last quarter. Although, revenue rose by 5.12 per cent in Q1 FY25 from Rs 1,262.77 crore in the same period last year.
"Our deal wins during the quarter are also up 10 per cent YoY at $160 million. We continue to invest in our business across our verticals and service lines to strengthen our position as a domain and emerging tech capabilities-led player," said Angan Guha, Chief Executive Officer and Managing Director at Birlasoft.
On the stock-specific, Birlasoft shares today fell 4.95 per cent to hit a low of Rs 713.65. It was last seen trading 4.82 per cent down at Rs 675.60. At this price, it has shed 3.77 per cent in 2024 so far.
The counter saw high trading volume on BSE today as around 4.04 lakh shares changed hands at the time of writing this story. The figure was higher than the two-week average volume of 1.56 lakh shares.
Turnover on the counter came at Rs 27.82 crore, commanding a market capitalisation (m-cap) of Rs 18,647.54 crore.
Birlasoft is a part of the $3 billion CK Birla Group, which has over 35,000 employees and operates 52 manufacturing facilities globally.