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What drove Q3 revenue growth?

Revenue reached ₹423.7 Cr (+23.4% YoY), beating consensus by 4.2pp. Enterprise contributed 68%, led by BFSI and healthcare verticals.

p.14 · §3.2 · chart 3.2.1
What are the main risks?

Three key risks: margin pressure (R&D ₹42 Cr), client concentration (top 5 = 34%), and 22% USD exposure.

p.42 · §7.1 · Annex B
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Sources
Q3 Financial Report.pdf
24 pages
Earnings Call Transcript.pdf
18 pages
Investor Presentation.pdf
32 pages
Key findings
Revenue grew 23.4% YoY · p.14
Operating expenses down 8.7% · p.22
Strong cash flow increase · p.31
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Master Services Agreement.pdf
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8.2 Limitation of Liability

Neither party shall be liable for any indirect, special, consequential, or punitive damages, including loss of profits or data...

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Q3_Financial_Report.pdf · PAGE 14/42 · §3.2 REVENUE

Consolidated revenue for Q3 FY2024 reached ₹423.7 crore, a year-on-year growth of 23.4% vs ₹343.2 crore in Q3 FY2023. Exceeded analyst consensus by 4.2pp. p.14

Enterprise segment revenues surged to ₹289 crore (68.2% of revenue), driven by BFSI and healthcare verticals. Retention 94.7%. chart 3.2.1

Operating margins contracted 120bps to 18.3% on elevated R&D investment (₹42 Cr). p.38

What was Q3 revenue compared to Q2?
Intellixy AI
Q3 revenue grew 23.4% YoY to ₹423.7 crore, beating consensus by 4.2pp. Q2 was ₹389.1 crore — 8.9% QoQ growth.
p.14, §3.2 · chart 3.2.1
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