Mumbai - July 22, 2005
- 3i Infotech, a global provider of IT solutions and services,
today announced its operating results for the quarter ended June 30, 2005.
Consolidated revenue at Rs 899.5
million grew by 36% over corresponding quarter of the previous year. On a
sequential basis, the revenue grew by 10%
EBITDA for the quarter at Rs 184.3 million grew by 67% over
corresponding quarter of the previous year. The EBITDA margin during Q1FY06
works out to 21% compared to 17% in Q1FY05. The margin expansion has been
achieved through increased gross margins owing to increased product license
and AMC contribution and a reduction in SGA percentage
Selling, General and Administration expenses were 24% of the
revenue as compared to 25% of the revenue in Q1FY05
Consolidated Profit After Tax at Rs 103 million grew by 66%
over the corresponding quarter of the previous year. On a sequential basis,
the Profit After Tax grew by 36%
Earning
per share (EPS) for the quarter increased to Rs 1.58 as compared to EPS of
Rs 1.15 in Q1FY05 (adjusted for face value change from Rs 5 to Rs 10). As
the public issue proceeds were available only during the quarter, the same
could be used for repayment of debt and preference capital only towards end
of the quarter. Taking into account interest / preference dividend savings,
the adjusted EPS works out to Rs 8.42 on an annualized basis.
The company added 40 new clients in the IT
solutions space during the quarter
In the
software product space, the company has won orders for each of its BFSI
products during the quarter
Mr. V. Srinivasan,
Managing Director & Chief Executive Officer, 3i Infotech said, "3i
Infotech has seen a quarter of all round growth. The company has been able
to gain higher value deals thereby leading to increased margins and enhanced
future business potential. The company anticipates a growth in revenue for
the full year FY 06 of 25% to 30% over the revenue in fiscal 2005, with EPS
ranging from Rs 8.5 to Rs 9.5 for FY 06."
Products contributed 45% of total revenues
for the quarter due to greater penetration in existing markets. Mr. Hari
Padmanabhan, Executive Director, 3i Infotech, states, "The pace at which our
products are gaining acceptance justifies our investment and marketing
efforts over the last few years. We are poised for greater success."
Services
contributed 55% of total revenue with growth being driven by system
integration. Mr. Manoj Kunkalienkar, Executive Director, states, "Our
experience in executing large mission critical system integration solutions
has enabled us to win large deals."
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3i Infotech Limited provides a range of information technology
solutions for insurance, banking &
finance ,
e-governance , manufacturing , retail & distribution . The company is SEI CMM Level 5 -compliant for its software
business and ISO 9001-certified for its Infrastructure Services.
Using its domain knowledge and through continuous investment in
technologies, 3i Infotech Limited helps corporations in their businesses
through its expertise in enterprise-class software solutions, software
services, information security consulting, IT infrastructure and disaster
recovery solutions. 3i Infotech serves customers in 30 countries and has a
presence across 4 continents.
M.B. Battliwala
General Manager
3i Infotech
Tower # 5, 3rd to 6th floors,
International Infotech Park,
Vashi, Navi Mumbai, 400705. INDIA.
Tel: + 91.22.55928000
Fax: +91.22.55912030
Email: corporate@3i-infotech.com
Except for the
historical information contained herein, statements in this release, which
contain words or phrases such as "will", "would", "expect", "believe", and
similar expressions or variations of such expressions may constitute
"forward-looking statements". These forward-looking statements involve a
number of risks, uncertainties and other factors that could cause actual
results to differ materially from those suggested by the forward-looking
statements. These risks and uncertainties include, but are not limited to,
the performance of the Indian economy and of the economies of our principal
international markets, the performance of the industry sectors in which our
clients are based, the performance of the information technology industry
sector world-wide, competition, our ability to obtain statutory and
regulatory approvals and to successfully implement our strategy, future
levels of our growth and expansion in business, technological
implementation, changes, advancements, and redundancies, the actual demand
for software products and services, or the future potential or feasibility
thereof, changes in revenue, income or cash flows, our market preferences
and our exposure to market risks, as well as other risks. 3i Infotech
undertakes no obligation to update forward-looking statements to reflect
events or circumstances after the date thereof.