BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Majesco Ltd.'s revenue grew 8.8% QoQ constant currency terms to 41.2 million dollar (our estimate 3% QoQ growth).
Indian rupee revenue grew by 12.4% to Rs 3,110 million. The growth was led by strong traction in subscription revenues through InsPro Technologies integration.
Product revenue up 34.6% YoY to Rs 1,491 million. Ebit Margin declined by 60 basis points to 9.6% well ahead of our estimate at 9%.
Majesco's total order backlog stood at 254 million dollar. Go-live during the quarter stood at 11. Total customers were 79 with two customer additions.
The expenses related to the acquisition of InsPro Technologies, Rs. 137 million has been shown as exceptional item.
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