BirlaSoft rises 17%

BirlaSoft has been right there among the top five gainers on the BSE since the opening bell today. The stock rose almost 17% to Rs.80.05, which is not too far from its 20% UC of today at Rs.82.25.

The market is obviously happy with its earnings for Q4FY20 wherein it posted a 4.5% (YoY) rise in consolidated net profit at Rs.69 crore on a 15% jump in revenue from operations at Rs.907 crore.

In dollar terms, net profit grew marginally to $9.6 million, while revenue from operations was up 11% at $125.6 million.

It ended FY20 with a 10% decline in net profit at Rs.224 crore while revenue was mostly flat at Rs.3291 crore.

The company has total contract value deals of $669 million during the year. Of this, $433 million was for new business, and the remaining $236 million was renewals.

As at 20th March, it had a total of 10,268 employees.