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Omnitech Q2 Revenues up by 51% at Rs 123 cr

Announcement  |  Corporate 

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, 2011.

The company has registered 51.38 % growth in revenues on a consolidated basis for the second quarter ended September 30, 2011 (Q2) compared to the same period last year. The total revenue for Q2 FY11-12 stood at Rs. 122.97 crore compared to Rs. 81.58 crore for the corresponding period of last year. The Q2 FY11-12 profit after tax is Rs. 13.92 crore compared to Rs. 14.63 crore for the same period during the previous year, a decrease of 4.82 %.

EPS stands at Rs. 9.46 for the quarter. EBIDTA on a consolidated basis for Q2 FY10-11 stood at Rs. 30.37 crore as compared to Rs. 26.37 crore reported in corresponding quarter.

Half yearly comparison

The consolidated revenues of the company for the first six months of the current year ended, September 30, 2011 is Rs. 240.95 crore compared to that of Rs. 155.76 crore for the corresponding period of last year; and profit after tax is Rs. 27.22 crore (consolidated) against Rs. 28.25 crore (consolidated) for the corresponding period of the last year.

Commenting on the Q2 FY11-12 results, Mr. Atul Hemani, Managing Director and CEO, Omnitech InfoSolutions said, “The last quarter witnessed a robust growth in revenues driven again by our domestic business. Consolidated Margins shrunk on account of our global expansion plans which included hiring at senior positions and opening offices in Japan and other parts of Asia. On a standalone basis we have been able to maintain our margins and we should be able to maintain the same for rest of the year.”

We are seeing increased traction from the APAC region and will expand further into other parts of the region. We also plan to strengthen our domain expertise in Education, Healthcare, Pharmaceutical and Government domain.

We will continue to invest into our resources, tools & technology to achieve service excellence and maximize our stakeholder’s value.

During the second quarter ended September 30, 2011, Omnitech announced the launch of ‘Cloud REVIVE’, a new cloud services that can easily and affordably implement disaster recovery plans of SME segment. The new disaster recovery solutions over cloud computing technology offers pay per use billing model for SMEs, reducing capital expenditure costs by eliminating the need of dedicated disaster recovery hardware and software, IT staff and other operational costs.

The company during second quarter was featured in the 6th Annual GS100 study conducted by Global Services (GS), in association with NeoGroup. Omnitech was ranked among the top 100 GS100 list: defining Leadership in Global IT and Business Process Outsourcing.

First Published: Thu, November 03 2011. 11:50 IST