Omnitech Q3 revenue up by 34%

Omnitech InfoSolutions (BSE Code: 532882), India's leading Business Availability and Business Continuity Solutions provider, today announced its standalone financial results for the third quarter ended on December 31, 2009. 

The Company has registered 34% growth in revenues on a stand alone basis for the third quarter ended December 31, 2009 as compared to the corresponding period last year. The total revenue for Q3 FY09-10 is Rs 58.1 crore as compared to Rs 43.33 crore for the corresponding period last year. Company's profit after tax stood at Rs 10.2 crore as compared to Rs 8.02 crore for the same period last year. 

The standalone YTD revenues of the Company is Rs 152.3 crore as against Rs 131.83 crore to the corresponding period last year; and YTD profit after tax is Rs 26.82 crore an increase of 27% Y-o-Y. 

Commenting on the Q3 FY09-10 results, Atul Hemani, Managing Director, Omnitech InfoSolutions Ltd said, "The strong revenue growth is on account of breaking of new accounts and completion of the transition of few major contracts. This growth is also fueled by our end to end IT outsourcing services which are very much appreciated by the SME’s and we feel that this could be a growth driver for us in the years to come." 

Our Joint Venture with in Far East has also started to contribute to the topline with 0.5% of the revenues coming from Far East in this quarter. The pipeline there looks promising and that market is shaping well for us. We would definitely be able to up the revenues from that subsidiary by this financial year end. 

About Omnitech InfoSolutions Ltd
Omnitech InfoSolutions Ltd (BSE Code: 532882, NSE Code: OMNITECH) 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.