Net4 India net up 71 %, revenues up 52.6 %

Net4 India, a leading Network and Application Services Provider, today announced the consolidated financial results for the 2nd quarter and half year ended September 30, 2011. The Company has reported a rise of 71.2 % (YoY) in its H1 consolidated net profit after tax. Its consolidated net profit increased to Rs 15.03 crore against Rs 8.78 crore in the corresponding 1st Half in the last fiscal year. EPS increased by 61 % from Rs. 4.64 per share to Rs. 7.49 per share for the 1st Half of the current financial year.

The consolidated revenues of the company for H1 has also climbed up by 52.6 % to Rs 192.9 crore. It had registered total revenues of Rs 126.4 crores in the corresponding half year in the last financial year.

The second quarter numbers have also seen a big jump, with consolidated PAT for Q2 increasing to Rs. 9.5 cr from Rs. 5.8cr, an increase of 65.1% YoY. Revenues for the quarter increased by 50.9% on a YoY basis, from Rs.77.4 crore in Q2 FY10/11 to Rs 116.7 crore in the quarter ended 30th September 2011.

Commenting on the performance, Mr. Jasjit Sawhney, CMD, Net4 India said, “Revenue growth is robust across all our service offerings. We are delighted with the company’s ongoing growth momentum and our recent acquisition has only added to it. Cloud, SaaS and Private Cloud & Virtualization solutions have been big kickers in our growth trajectory in the last 6 months. Our Web Services business growth has also seen excellent traction, adding over 40,000 customers in the last quarter alone.

We believe there is considerable latent growth potential in the Indian market that we are ideally positioned to tap into it. The Indian market remains highly under-penetrated in terms of the number of web sites hosted or the number of domain names registered, or the amount of businesses using hosted /cloud applications. We remain confident of similar growth in the near term and continue to work towards products, markets and strategies that will help us elongate this growth cycle.”