BSOFT · Information Technology
A lower tax rate lifted profit. Is the lower rate going to last?
Effective tax rate 21.0% against 36.3% over the previous quarters, worth about ₹33.9 cr of profit.
Source: Quarterly statements
Depreciation fell while the business grew. Were asset lives changed?
Depreciation ₹19.0 cr, −13.6% on the year.
Source: Quarterly statements
Margin rose sharply on flat revenue. Which cost fell, and will it stay down?
EBITDA margin 18.5%, +525 bps on the year (+28 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,310 cr | ₹1,343 cr | ₹1,363 cr | ₹1,327 cr | ₹1,368 cr | ₹1,363 cr | ₹1,317 cr | ₹1,285 cr | ₹1,329 cr | ₹1,348 cr | ₹1,349 cr | ₹1,379 cr |
| YoY | — | — | — | +5% | +4% | +1% | −3% | −3% | −3% | −1% | +2% | +7% |
| EBITDA margin | 15.8% | 15.9% | 16.3% | 14.7% | 12.1% | 12.0% | 13.2% | 12.4% | 16.0% | 18.2% | 18.5% | 16.2% |
| Other income, % of PBT | 8% | 13% | 19% | 17% | 19% | 13% | 12% | 20% | 10% | −14% | −2% | 13% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 25% | 26% | 27% | 25% | 25% | 27% | 36% | 45% | 37% | 21% | 29% |
| Net profit | ₹145 cr | ₹161 cr | ₹180 cr | ₹150 cr | ₹128 cr | ₹117 cr | ₹122 cr | ₹106 cr | ₹116 cr | ₹120 cr | ₹176 cr | ₹161 cr |
| YoY | — | — | — | +9% | −12% | −27% | −32% | −29% | −9% | +3% | +44% | +52% |
| Core profit YoY | — | — | — | +1% | −24% | −28% | −26% | −22% | +37% | +62% | +55% | +50% |
| EPS | ₹5.27 | ₹5.84 | ₹6.53 | ₹5.44 | ₹4.61 | ₹4.23 | ₹4.39 | ₹3.83 | ₹4.17 | ₹4.30 | ₹6.29 | ₹5.76 |
| Flags | · | · | · | ✓ | 1 | 1 | 1 | ✓ | ✓ | ✓ | 2 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Birlasoft Ltd. reported revenue of ₹1,349 cr (+2.4% on the year) and net profit of ₹176 cr (+44.3% on the year) for January to March 2026.
Profit before other income, exceptional items and tax moved +54.8% on the year, against +44.3% for reported profit.
2 checks raised a question: A lower tax rate lifted profit. Is the lower rate going to last?
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