Omnitech InfoSolutions Ltd (BSE Code: 532882), India’s leading Business Availability and Business Continuity Solutions provider, today announced its first quarter results, ended June 30, 2010.
The company has posted a topline of Rs 74.56 Crore on a consolidated basis for the first quarter ended June 30, 2010, as against Rs 42.54 Crore for the previous quarter registering a 75.27% growth.
The EBITDA for this quarter stood at Rs 23.82 Crore as against Rs 13.79 Crore for the previous period last year. EBITDA margins stood at 31.95% in the first quarter compared to 32.41% in the corresponding previous quarter.
Commenting on the performance of the first quarter, Mr. Atul Hemani, Managing Director, Omnitech InfoSolutions said “Our performance is in line with our guidance for the first quarter. The increase in the topline is attributable to robust domestic growth and contribution from Far East market.”
The earnings per share (EPS) works out to Rs 9.83 for the first quarter ended 30th June 2010, as compared to Rs. 5.77 for the first quarter ended June 2009.
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On a standalone basis, the total income increased 64.37% to 69.92 Crore. PAT increased by 73.66% to Rs 13.18 Crore.
Talking about the future organic growth plans, Mr. Hemani said, “We are expecting an organic growth of 30-35 per cent in FY-11. The company will invest around Rs. 25-30 crore to launch Disaster Recovery Management sites in NCR and Bangalore region. With these two additional OmniCenters, Omnitech will become India’s first technology solutions provider to have four Workplace Area Recovery sites in the country. Also we are eyeing some strategic alliances in other regions to further strengthen our presence in Disaster Recovery & Business Continuity space globally.”
On an inorganic growth front, Mr. Hemani commented that “We have already identified companies in Europe and US region for an acquisition. The target companies have expertise in managed services space which will support our Business Availability offering and will help us tap overseas market. The combined deal size is expected to be around $25-30 million and we expect to close the European acquisition in couple of month’s time.”
Financial highlights for the year 2009-10
For FY 2009-10, on a consolidated basis, the company’s total revenue increased by 27.2 per cent to Rs 218.43 crore; as compared to Rs 171.73 crore in the previous year. The net profit rose by 15.44 per cent to Rs 38.09 crore; as compared to Rs 33 crore in the previous year.
The EBITDA has increased by 29 per cent; compared to that of the previous year. The EPS (Earnings per Share) stood at Rs 28.59; as compared to Rs 25.11 in the previous year. The company’s board has also recommended 15 per cent dividend.
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 27001and 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.
