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DRC Systems Reports Strong Q1 FY 2022-23 Financial Results

DRC Systems India Limited reported strong growth in Q1 FY23, with a 440% increase in profit after tax, reaching INR 70 Lacs, and a 165% rise in EBITDA, totaling INR 154 Lacs. This performance reflects the company’s successful adaptation to emerging opportunities in the global IT services and consultancy market.

DRC Systems India Limited Announces Unaudited Financial Results for the First Quarter (Q1) of Fiscal Year 2022–23

Profit before tax up 486% YoY to INR 102 Lacs.
Profit after tax up 440% YoY to INR 70 Lacs.
EBITDA up 165%, Y o Y to INR 154 Lacs.

Gandhinagar, India, 21st July, 2022 Information Technology and Software Consultancy Services provider, DRC Systems India Limited “DRC Systems” “the Company”, today announced its standalone unaudited financial results for the First Quarter (Q1), ended June 30, 2022, for Fiscal Year 2022–23.

Managing Director Mr. Hiten Barchha said, Our performance for the first quarter is reflective of positive growth and emerging opportunities. Being a customer-centric technology company, we are well poised to take advantage of the positive emerging opportunities in the IT services and Consultancy space in India & globally, where we have strategized to provide viable solutions with a mix of innovation & creativity. Demand for creative and innovative tech solutions is high as global businesses move towards high-density digitalisation as the economies turn towards building digital infrastructure. Hence, we expect to see more exciting years soon.

Performance Review for Q1 FY22 23:
  • Operating Revenue stood at Rs. 447.2 lakhs down 14.3% YoY, down 3.7% QoQ.
  • EBITDA for the quarter was Rs. 154.3 Lakhs up 165.3% YoY, up 93.8% QoQ.
  • Profit After Tax (PAT) is at Rs. 70.0 lakhs up 440% YoY, up 96.7% QoQ.

Figures in INR Lakhs

Particulars

Q1 FY23

Q1 FY22

% change YoY

Q4 FY22

% change QoQ

Revenue

447.2

521.9

-14.3%

464.5

-3.7%

EBITDA

154.3

58.2

165.3%

79.6

93.8%

EBITDA Margin

34.5%

11.1%

209.7%

17.1%

101.3%

Profit after Tax

70.0

13.0

440.0%

35.6

96.7%
About DRC Systems India Limited

DRC Systems is an IT services and consulting company based in India, dedicated to providing sustainable and impactful business solutions. Since our inception in 2012, we have focused on innovation and creativity to drive change. Our services and solutions empower businesses to scale and stay competitive in the market. Our services and solutions help businesses scale the market. Over the years, we have diversified our service offerings through a mix of organic growth and strategic transactions. Our wide range of services allows us to build strong client relationships and create opportunities for cross-selling.Our customer base spans multiple geographies, primarily in Europe, the USA, the Middle East, and Asia.

Press Release (pdf)