ICSA Q3 net revenue up by 2.93% to Rs 313 cr

Order book increased to Rs 2005 Crores

ICSA (India), which provides embedded technology solutions and infrastructure deployment services for the power sector, posted modest results for the quarter ended December 31, 2009.

ICSA’s Net Revenue has increased 0.65 % when compared with the last quarter of current financial year, from Rs 311.12 Crores for the quarter ended September 30, 2009 to Rs 313.15 Crores for the quarter ended December 31, 2009. Net Revenue has increased by 2.93 % when compared with corresponding quarter of the previous year, from Rs 304.22 Crores for the quarter ended December 31, 2008 to Rs. 313.15 Crores for the quarter ended December 31, 2009.

Similarly, the company has posted a net profit after tax of Rs 30.16 Crores for the quarter ended December 31, 2009 as compared to Rs 38.48 Crores for quarter ended September 30, 2009, registering a decline of 21.61 %.The net profit after tax declined by 33.29 % when compared with corresponding quarter of the previous year. The PAT stands at Rs. 30.16 Crores for the quarter ended December 31, 2009 as compared to Rs 45.22 Crores for the corresponding quarter ended December 31, 2008.

Basic EPS stands at Rs.6.40 per share of Rs.2/- each as compared to Rs.9.66 per share of Rs.2/- each for the corresponding quarter of the last financial year.

Commenting on the results, Mr. G. Bala Reddy, CMD, ICSA India Ltd said “The results are in line with the expectation as we have said in the last quarter that there will be slow down in ESS orders and revenues and the trend will be continuing for couple of quarters to come”.

“The orders relating to the ESS segment are in the finalization stage which will be fructifying by Sept 2010. Our Infrastructure business is doing very well and the order book has a higher contribution from Infrastructure segment. The drop in margins is basically due to the change in business mix though PBIT levels for individual business have remained more or less same when compared with last quarter. The business mix will be dominated by IPS for couple of quarters to come which is also reflected in the order book buildup”, added Mr Bala Reddy.

“Our order book has swelled to Rs 20.05 billion, majority of the orders coming from IPS Segment. We hope to complete schedules in good time, to be one of the sought after companies in the Power distribution sector. ” said Mr. G. Bala Reddy, CMD, ICSA India Ltd.

About ICSA (India)
ICSA (India) is in the business of providing technology solutions and construction of power transmission lines and substations. The company's product line includes: Intelligent Automatic Reading System, Multiplexer Unit, Distribution Transformer Monitoring System, Substation Controller, Micro Remote Terminal Unit, Theft Detection Devices, and Pole Top RTU.

The company has developed products suitable for power utilities in the field of Energy Management, Energy Audit, and Control applications and provides versatile Data Acquisition Systems using GSM, CDMA, and RF