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Hyderabad: Cigniti Technologies Limited, world’s leading AI & IP-led Digital Assurance and Digital Engineering services company, announced the consolidated financial results for the quarter ended September 30, 2022.

The company’s reported Net Profit for Q2FY23 stood at Rs 42.53 crore as against Net Profit of Rs 31.00crore in Q1FY23.

The Company’s Consolidated Revenue from operations for the quarter under consideration increased by 10% to Rs.416.65crore as against Rs.377.97 crore in Q1FY23.

EBIDTA reported for the quarter ended September 30, 2022,stood at Rs.60.76crore up by 36% compared to Q1FY23.

Management Commentary

Commenting on the results, Mr. C V Subramanyam, Chairman & MD, said, "In the second quarter, Cigniti Technologies ably demonstrated its sustained growth across the verticals, highlighted by our strong Net Profit growth of 10.2%. I am confident that we will continue this growth momentum for the next few quarters.

I am happy to update that the unveiling of our company's new brand identity has revitalized our efforts to surpass all past expectations.This quarter also witnessed Cigniti Technologies being honored with the 'Outstanding Contributor to the Indo-US Corridor’ award. This is an outcome of the spirited effortsdemonstrated by all the Cignitians, propelling us to the forefront of digital transformation in a leading tech-driven market such as the USA.”

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