Glodyne Technoserve FY09 revenue up 63% at Rs 501 cr

Glodyne Technoserve Limited, a leading Technology Infrastructure Management Services Company, reported today its consolidated audited financial results for the quarter ending and year ending on March 31, 2009. 

Financial Highlights

Consolidated results for the quarter ending March 31, 2009

* Revenue at Rs 140.72 cr. YoY growth 45%

* PAT at Rs 26.46 cr. YoY growth 88%

* EPS at Rs 23.98 against Rs 12.89 last year

* EBITDA at Rs 30.90 cr. YoY growth 65%

Consolidated results for the year ending March 31, 2009

* Revenue at Rs 501.02 cr. YoY growth 63%

* PAT at Rs 77.84 cr. YoY growth 92%

* EPS at Rs 70.54 against Rs 37.34 last year

* EBITDA at Rs 105 cr. YoY growth 86% 

Announcements:

* The Board has proposed a final dividend of Rs 4.2 on equity share of Rs 10 each.

* The Board has recommended a bonus issue of 1:1 

Others Highlights:

* EBITDA margin for the quarter at 21.96 % against 19.30% last year and for the year at 20.96% against 18.30% last year.

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

Business Outlook:

* For the fiscal 2010, consolidated revenue on organic basis is expected to be in the range of Rs 668 cr – 688 cr 

* For the first quarter of FY 2009-10, consolidated revenue on organic basis is expected to be between Rs 145 cr – 153 cr. 

Glodyne Technoserve Chairman and Managing Director Annand Sarnaaik said: “Businesses across the globe have witnessed a challenging environment. The IT Management Segment that Glodyne operates in, is in a stronger position to weather the recession. The global economic downturn has compelled a growing number of companies to adapt ways to reduce IT costs and outsourcing of management of IT assets is becoming a need. Glodyne’s ability to demonstrate real value and deliver cost savings to our customers enabled us to achieve significant new milestones during the year. We are on schedule with the implementation of the Rs 284 crore E-shakti project in Bihar which was bagged by Smaarftech (a subsidiary of Glodyne). The Company is focusing on similar initiatives in the e-governance space in other states. We continue to invest in the domestic market and build strong business traction for remote infrastructure management services globally for the Company. We are confident that Glodyne would continue its growth story in FY10.” 

About Glodyne Technoserve Limited
Glodyne Technoserve Limited is a leading IT Services company with prime focus on Technology Infrastructure Management Services that delivers real time solutions to businesses seeking efficiencies in their IT spends. Glodyne has presence across India and US. For more information kindly visit www.glodyne.com