AGC Networks narrows net loss to Rs 3.55 cr in Q3

ICT solutions provider AGC Networks has narrowed its consolidated net loss to Rs 3.55 crore in the third quarter ended December 31, 2014.

The firm had posted a net loss of Rs 89.63 crore in the year-ago period.

Consolidated net sales of the company grew by 23 per cent to Rs 232.75 crore in October-December of this fiscal from Rs 189.12 crore in the same quarter of 2013-14 fiscal.

"Our mantra is profitable growth quarter after quarter ensuring we consistently create value for our customers," the company said in a statement today.

Meanwhile, the company last evening had said the improved market traction across geographies coupled with AGC's laser focus on 'Accelerating business' for its customers is beginning to reflect in the firm's performance.

Sustaining the turnaround hinges on focusing on cash-flow, financial controls and corporate governance, it added.

"We represent the world's best technology brands. Our consistently improving results endorse our competitive differentiation of enhanced responsiveness, execution excellence and design superiority," AGC Networks CEO and Managing Director Anil Nair had said yesterday.

Future quarters will maintain the firm's trajectory of all round improvement, he said.