Chennai (Tamil Nadu) [India], May 14 : Chennai-based electronics solution provider Data Patterns on Sunday posted a 10 per cent decline in its net profit to Rs 55.34 crore for the fourth quarter ended March 31, 2023, against Rs 61.63 crore in the year-ago period.
Revenue increased marginally to Rs 188.90 crore from Rs 173.07 crore, according to a company's statement shared with exchanges.
Srinivasagopalan Rangarajan, Chairman and Managing Director, said, "This year we achieved excellent results with a 32 per cent YoY growth in PAT (profit after tax). Our order book is up 94 per cent at Rs 924 crore. We have also made significant investments on human capital and infrastructure during the last year. As communicated at the time of IPO (initial public offering), we have smoothened the business. Accordingly, the impact of Q4 on revenues have reduced from 70 per cent in FY20 to 41 per cent currently."
For the whole year FY23, net profit rose 32 per cent to Rs 124 crore as against Rs 94 crore during FY22. Net revenue for FY23 increased by 46 per cent to Rs 453 crore, against Rs 311 crore.
The company said, "We hired over 250 staff in FY23." It also added that it planned to hire 100 more engineers in the next year.
The company said it spent Rs 44 crore on a new facility. The facility had been operational from March 2023 onwards.
The CMD said, "We can see that full-year growth is now more representative of our performance. Aligning with the sectoral opportunities, we are actively pursuing new product development. With the successful completion of the (qualified institutional placement) QIP of Rs 500 crore, we have positioned ourselves for substantial revenue growth through new products in the domestic and international markets in the coming years."
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor