Expleo Solutions Reports 10.5% Q4 Revenue Increase for FY 2024

On May 23, 2024, at midnight, Expleo Solutions Limited announced their financial results for the quarter ended March 2024 and FY 2024.

In FY 2024, the company’s total revenue was up by 5.8% Y-o-Y to ₹9,724 million.

Financial Performance in FY 2024

In the financial year 2024, the company’s operating revenue stood at ₹9,649 million, a growth of 6.8% compared to ₹9,033 million in FY 2023. The total income was ₹9,724 million, compared to ₹9,194 million in FY 2023.

The Profit After Tax (PAT) stood at ₹887 million, decreasing by ~34.64% from ₹1,357 million in FY 2023.

Financial Performance in Q4 FY 2024

In the quarter ended March 2024, Expleo Solutions reported an operating revenue of ₹2,554 million, an increase of 10.5% compared to ₹2,311 million in Q4 FY 2023. The company’s total income was ₹2,572 million as compared to ₹2,349 million in Q4 FY 2023, showcasing a growth of 9.5%.

The company reported a PAT of ₹148 million in Q4 FY 2024, which declined by ~48.97% compared to ₹290 million during the same period in FY 2023.

Sharing his thoughts on the financial performance, the Managing Director and CEO of Expleo

Solutions Limited, Mr Balaji Viswanathan, said, “The Q4 FY 23-24 results indicate the challenges in the core markets continue. However, the expectation is that some of these challenges may be corrected over the next two quarters. The cost optimisation measures that we took last quarter are expected to show an increase in profitability over the next couple of quarters. There is continued effort to ensure that we are optimising our utilisation rates and G&A costs while balancing with expected future demand.”

He further added, “While the overall demand for talent is yet to pick up, there is still demand for niche skills across AI, Data, and DevOps. The investments in AI, Digital and Security will continue as there is traction and we expect these capabilities will help to drive the future growth. We continue to add Partners in this area. We also received recognition for Data and AI capabilities with our innovative solutions for clients. We had a marginal impact on Collections due to challenges with a couple of larger clients, which has been addressed subsequently.”

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