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Glodyne Technoserve Q3 revenues up 38.71% at Rs 686.72 cr

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Glodyne Technoserve Limited, the leading technology services company reported today its consolidated unaudited financial results for the quarter ended December 31, 2011.

Financial Highlights

Consolidated results for the quarter ended December 31, 2011

· Income at Rs 686.72 cr. 38.71% YoY growth

· PAT at Rs 57.35 cr. 12.29% YoY growth

· EPS at Rs 13.01 against Rs 11.68 last year (*EPS adjusted for face value split from Rs 10 to Rs 6)

· EPS non GAAP at 14.79

· EBITDA at Rs 117.38 cr. 35.90% YoY growth

Standalone results for the quarter ended December 31, 2011

· Income at Rs 398.90 cr. 66.18% YoY growth

· PAT at Rs 75.14 cr. 82.46 % YoY growth

· EPS at Rs 17.05 against Rs 9.42 YoY (*EPS adjusted for face value split from Rs 10 to Rs 6)

· EBITDA at Rs 103.11 cr. 69.48% YoY growth

For the third quarter of the financial year 2011-12 (Q3 FY12) on a consolidated basis, revenue grew by 38.71 % over Q3 FY11 to Rs 686.72 cr. EBITDA grew by 35.90% over Q3 FY11 to Rs 117.38 cr. Net profit for Q3 FY12, was Rs 57.35 cr, up 12.29 % over Q3 FY11. The basic EPS for the quarter is at Rs13.01 against Rs11.68 for the corresponding period last year.

Commenting on the results, Annand Sarnaaik, CMD, Glodyne Technoserve Limited said, “The quarter saw a good performance even in these uncertain environments with a robust revenue growth of 38.71% year on year. Our platform based services have been tracking well, as it is clear from the successful roll-out of ambitious and transformational projects for the Country. Moving forward, our strategy will be to strengthen Glodyne’s position for customers in the geographies we serve and to emerge as a strong force in our space. We see an overall positive trend in the market for platform based services with a strong growth potential for the upcoming years”

The board today has approved the proposed nomination of Mr. Surjeet Singh as an Executive Director of the Company; the same is subject to shareholders’ approval.

Corporate Highlights:

• Completed the pilot of ‘Mahashramm’ – the largest urban labour management project in Maharashtra and initiated the State wide roll out of the same

• 9 new clients added by Glodyne and its subsidiaries in the quarter

• Winner at the Deloitte Technology Fast 500 Asia Pacific Program 2011

• CMD was the winner of the Outstanding Entrepreneurship Award at the prestigious Asia Pacific Entrepreneurship Awards

Business Outlook:

For the fiscal 2012, the consolidated revenue is expected to be in the range of Rs 2607 cr to Rs 2634 cr and is revised upwards from the earlier guidance of Rs 2557 cr to Rs 2586 cr.

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