Datamatics Global Services Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

Datamatics Global Services announced that Dinesh Kumar VK has been appointed as Executive Vice President and Global Sales Head. He will be reporting to Rahul Kanodia - Vice Chairman & CEO of Datamatics.

Dinesh will lead the Datamatics Sales function globally, which has a presence across 4 continents and has over 300 global enterprise customers across Banking, Financial Services, Insurance, Healthcare, Manufacturing, International Organizations, and Media & Publishing.

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Salesforce is one of the largest applications enterprise companies in the world, with over 150,000 customers and 95% of the Fortune 100 companies using the platform.

Dextara Digital is a Salesforce Summit (Platinum) Consulting and ISV partner and has more than 250 Salesforce certifications. With a stellar 5-star rating in the Salesforce partner ecosystem, Dextara Digital has garnered a reputation for delivering innovative solutions that are tailored to the unique needs of customers across various industries. The company has worked on over 600 Salesforce projects for more than 150 global customers on various products.

For the financial year 2022-23, the consolidated turnover of Dextara Digital was Rs 20.57 crore.

With the acquisition of Dextara Digital, Datamatics will expand its capabilities in the Salesforce ecosystem, enabling it to tap into the growing Salesforce market while further strengthening its position as a leading digital technologies provider.

The total amount payable by Datamatics for the said acquisition will be Rs 143.40 crore. The acquisition entails an additional payment of up to Rs 30.63 crore, contingent on achievement of certain business targets and milestones over a period of two years.

Rahul Kanodia, vice chairman and CEO, Datamatics, said, We are excited to welcome Dextara Digital to the Datamatics family.

This acquisition aligns perfectly with our growth strategy of focusing on hyper scalers and further strengthens our capabilities in the Salesforce ecosystem.

Along with deep Salesforce expertise, solution assets, and extensive ecosystem relationships, Dextara brings an extremely capable management team and a broad clientele across industries that are of specific interest to us.

With this strong addition to our portfolio, we look forward to helping our customers go deep in Salesforce.

Datamatics Global Services provides solutions for data driven businesses to enhance their productivity and customer experience. The company's services can be bifurcated into three segments—digital operations, digital experience and digital technology. The company has also developed products in robotics process automation, advanced analytics, business intelligence, and automated fare collection.

The company's consolidated net profit fell 10% to Rs 41.30 crore in Q3 FY24 as against Rs 45.87 crore recorded in Q3 FY23. Revenue from operations fell marginally to Rs 369.30 crore in Q3 FY24 as comapared to Rs 372.64 crore recorded in corresponding quarter last year.

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Datamatics Global Services announced that it has received FINTECH India Innovation Awards (FIIA) 2024 in the Best Customer Experience Services category for its Automatic Fare Collection (AFC) solution. FINTECH India Innovation Awards celebrates and honors innovations and emerging technologies that disrupt and elevate the financial landscape.

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Revenue from operations fell marginally to Rs 369.30 crore in Q3 FY24 as comapared to Rs 372.64 crore recorded in corresponding quarter last year.

Profit before tax stood at Rs 53.76 crore in Q3 FY24, down 10.8% YoY as compared to Rs 60.24 crore posted in Q3 FY23.

EBITDA declined 10.7% to Rs 52.6 crore in Q3 FY23 from Rs 59 crore posted in Q3 FY22. EBITDA margin contracted by 157 basis points YoY to 14.3% in the quarter ended 31 December 2023.

Rahul Kanodia, vice chairman and CEO, said, During the traditionally soft quarter for Datamatics, our Q3 revenues decreased by 0.9% compared to the same period last year. This was mainly due to the slow decision-making of large deals in Western markets. Nevertheless, we continue to add new customers at a steady rate.”

He further added, We are happy to be in Forbes Asia 200 Best Under A Billion Companies prestigious list. The list comprises the top 1% of 20,000 listed companies in Asia. It is recognition of our outstanding corporate performance over the years. I take this opportunity to thank all our stakeholders, including employees, customers, and shareholders, for being an integral part of the journey.

DGSL provides solutions for data driven businesses to enhance their productivity and customer experience. The company's services can be bifurcated into three segments—digital operations, digital experience and digital technology. The company has also developed products in robotics process automation, advanced analytics, business intelligence, and automated fare collection.

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