DRC Systems India Limited Announces Q2FY22 Financial Results
Recorded 148.5 % YoY growth in PAT to INR 14.5 Lacs in Q2FY22
Gandhinagar, India, 12th October, 2021 – Information Technology and Software Consultancy Services provider, DRC Systems India Limited “DRC Systems” “The Company”, today announced standalone financial results for the quarter ended September 30, 2021.
Standalone Highlights ‐ Quarter Ended September 30th, 2021 (INR Lacs)
- Revenue was INR 534.8 Lacs, up by 5.1 % YoY; up by 2.5 % QoQ
- EBITDA was INR 64.2 Lacs, up 91.1 % YoY; up by 10.3 % QoQ
- EBITDA margin was 12 %, up 81.8 % YoY; up by 7.6% QoQ
- Profit After Tax was INR 14.5 Lacs, up 148.5 %, YoY; up by 11.5% QoQ
During the quarter, the Company has demonstrated strong financial performance which is largely attributed to a significant increase in digital adoption and consumption. Increase in overall operational efficiency resulting in improved margins impacting revenue and profit.
Key Business and Operational Highlights
During the quarter, the company announced that as part of its international expansion plan the Company is making inroads into the Middle East market and setting up its first wholly owned subsidiary (WOS) in the United Arab Emirates, DRC Systems EMEA LLC – FZ. Through this WOS, the Company is targeting to place itself strategically near to its existing customers, tap into the fast-growing IT and ITeS sector in the Middle East, elevating demand fulfillment and delivery. Through this WOS, the Company will offer its vast array of advanced, technology-enabled digital solutions and services such as cloud computing, analytics, Enterprise Resource Planning (ERP), eLearning, Business Process Automation, Machine Learning and Artificial Intelligence to Small and Medium Enterprises (SME) largely operating in the online retail, education, hospitality and travel and tourism industry, apart from other industry verticals. The Company’s successful track record of more than a decade in its domestic market (India) provides the confidence to deliver best-in-class services to one of the world’s most advanced digital markets, i.e., the UAE.
Standalone Financial Highlights: Q2 FY22 (Amounts in INR Lacs)
| Particulars | Q2FY22 | Q2FY21 | % change YoY | Q1FY22 | % change QoQ |
|---|---|---|---|---|---|
| Revenue | 534.8 | 508.8 | 5.1% | 521.9 | 2.5% |
| Profit after Tax | 14.5 | -29.9 | 148.5% | 13.0 | 11.5% |
| EBITDA | 64.2 | 33.6 | 91.1% | 58.2 | 10.3% |
| EBITDA Margin | 12.0% | 6.6% | 81.8% | 11.2% | 7.6% |
The Company’s Managing Director, Mr. Hiten Barchha, said: “Overall performance in Q2 has been phenomenal and we will continue to demonstrate our strong revenue and profitable growth. The company will further accelerate its operational growth in digital space across both domestic and international markets.”
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.
