Omnitech Q2 Revenues up by 11.61 %, to Rs 51 cr

Omnitech InfoSolutions Ltd (BSE Code: 532882), India’s leading Business Availability and Business Continuity Solutions provider, today announced its standalone financial results for the second quarter ended on September 30, 2009.

The company has registered 11.61 % growth in revenues on a stand alone basis for the second quarter ended September 30, 2009 (Q2) compared to the same period last year. The total revenue for Q2 FY09-10 is Rs 51.30 crores compared to that of Rs 45.96 crores for the corresponding period of last year. The Q2 FY09-10 profit after tax is Rs 9.04 crores compared to Rs 9.02 crores for the same period during the previous year, a growth of 0.20 %.

Half yearly comparison

The standalone revenues of the Company for the financial year six months ended, September 30, 2009 is Rs 94.21 crores compared to that of Rs 88.50 crores for the corresponding period of last year; and profit after tax is Rs 16.62 crores (standalone) and Rs 17.86 crores (standalone) for the corresponding period of the last year.

Commenting on the Q2 FY09-10 results, Mr. Atul Hemani, Managing Director of Omnitech said, “We continue to leverage our strengths of in managed IT services which include remote infrastructure, application and performance management services for robust growth in this quarter. Our growth contribution is twofold, by expanding business offerings to existing clients and by acquiring new customer globally. Our leadership in DR/BCP space is a catalyst to our growth. We expect to achieve further growth by offering vertical industry specific services to BFSI industry and by inorganic growth through cross border M & A.”

During the quarter, the company announced a Joint Venture with a Singapore based technology company Attiva Services Pte. Ltd. Omnitech expects to generate $40 million revenue over a period of 3 years through this JV “Omnitech Services Pte limited”. The company also announced the commencement of wholly owned subsidiary in Netherlands - ‘Omnitech Technologies B.V’ Omnitech expects to generate close to 50 million Euros of revenues over next three years from this subsidiary. 

About Omnitech InfoSolutions Ltd
Omnitech InfoSolutions Ltd (BSE Code: 532882) is India’s leading business continuity and disaster recovery services provider. The company offers a complete range of Business Availability Services which includes Infrastructure Management Services, Application Management Services & Performance Management Services. Omnitech also specializes in Business Continuity Services, which include DR Consulting & Management, Data Vaulting Services and Work Area Recovery Services. Turnkey IT solutions like Server & Storage Consolidation, Virtualization, Network Integration Solutions and Data Center Management Solutions are also covered by Omnitech.

Company’s business is spread across the US, Canada, UK, Belgium, Bahrain and Japan. The client base encompasses sectors like BFSI (Banking, Financial Services and Insurance), Manufacturing, Utilities, Services and IT & ITES.

Omnitech is the first Indian IT company to start third party managed workplace recovery centres in India through – Omnicentre (a global chain of DR centres). The company aims to open a chain of DRMS centers globally to provide business resilience of Workplace, Data and Systems.