Omnitech Q2 Revenues up by 58.55%, to Rs 81.21 cr

Omnitech InfoSolutions Ltd (BSE Code: 532882), India’s leading Business Availability and Business Continuity Solutions provider, today announced its consolidated financial results for the second quarter ended on September 30, 2010.

The company has registered 58.5 % growth in revenues on a consolidated basis for the second quarter ended September 30, 2010 (Q2) compared to the same period last year. The total revenue for Q2 FY10-11 is Rs. 81.21 crore compared to that of Rs. 51.22 crore for the corresponding period of last year. The Q2 FY10-11 profit after tax is Rs. 14.63 crore compared to Rs. 9.04 crore for the same period during the previous year, a growth of 61.83%.

EPS stands at Rs. 10.56 for the quarter. EBIDTA on a consolidated basis for Q2 FY10-11 stood at Rs. 26.37 crore as compared to Rs. 16.09 crore reported in corresponding quarter.

Half yearly comparison
The consolidated revenues of the company for the financial year six months ended, September 30, 2010 is Rs. 155.77 crore compared to that of Rs. 93.76 crore for the corresponding period of last year; and profit after tax is Rs. 28.26 crore (consolidated) against Rs. 16.62 crore (consolidated) for the corresponding period of the last year.

Commenting on the Q2 FY10-11 results, Mr. Atul Hemani, Managing Director of Omnitech said, “We have started witnessing traction from our subsidiary arms in Netherland and Singapore which commenced operations in the corresponding previous quarter. We have been successful this quarter to further strengthen our presence in BFSI segment globally by offering DR/BCP and IT managed services, through India and other subsidiary arms of the company.”

During the quarter, Omnitech strengthened its Disaster Recovery offering in domestic & overseas by market strategic alliance with Rogers Group Co - Enterprise Information Systems Ltd, a Mauritius-based company, specializing in offering range of IT-enabled solutions, business consulting & outsourcing services. Through this alliance, Omnitech is offering Disaster Recovery and Business Continuity services to Mauritius & African market with Mauritius as a hub. The company also reinforced its senior management with the appointment of CEO for Hong Kong & Singapore and Head (India) – Integrated Service Delivery.

About Omnitech InfoSolutions Ltd
Omnitech is a global IT solutions and services provider company in the areas of business availability, business continuity and business enhancement services. With over 22 years of fostering client relationships, we at Omnitech are agile to establish the best global credentials through world class quality certifications. Besides the conduct of ISO 9001:2008 Surveillance audit for quality management, we have also gained ISO 20000, ISO 27001 and BS 25999 standards.

As an intensely technology focused company, Omnitech banks upon its ability to anticipate and address IT requirements across business in a cost effective manner. Omnitech InfoSolutions helps customers to align their IT with their business goals and offers value added services at different phases of their IT planning and deployment cycle. We help them to derive optimum utilization of their IT resources and lower their cost of operations. Within the broad direction, Omnitech innovates in order to compete successfully. Emerging as a pioneer in business continuity services, Omnitech introduced first of its kind disaster recovery centre in India meeting all the global standards, thereby demonstrating both its knowledge of technology and skills of implementation.