Press release from Business Wire India
Source: Infinite Computer Solutions (India) Limited
Monday, August 13, 2012 12:19 PM IST (06:49 AM GMT)
Editors: General: Consumer interest; Business: Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Infinite Q1 FY13 Revenue at INR 319.2 Crore
Revenue Growth of 20% QoQ, EBITDA Growth of 30% QoQ, Net Profit Growth of 71% QoQ, EPS at INR 8.32
Bangalore, Karnataka, India, Monday, August 13, 2012 — (Business Wire India) — Infinite Computer Solutions (India) Limited (BSE: 533154, NSE: INFINITE), a global provider of Application Management, Infrastructure Management, Product Engineering and Mobility & Messaging products and solutions today announced its results for the first quarter for fiscal 2012-13, as approved by its Board of Directors.
Commenting on the results, Upinder Zutshi, MD & CEO, Infinite said, “We had an excellent quarter both in terms of revenue and margin growth. Most major metrics in the quarter are in line with the annual guidance. With a number of deals signed during the quarter with existing and new clients across Telecom, Media & Content and Healthcare verticals, the enhanced executive management and sales team in the US and, significant capital investment in Telecom, it gives me immense confidence that we will be able to sustain the momentum going forward.“
Consolidated results for the quarter ended June 30, 2012
— Revenue – INR 319.2 Crore; (USD 58.9 Million*) QoQ growth of 11% in USD terms and 19.6% in INR terms
— EBITDA – INR 53.6 Crore (USD 9.9 Million); QoQ EBITDA increased by 20% in USD terms and 30% in INR terms. EBITDA margin at 16.8%; increase of 127 bps QoQ
— PAT – INR 35.4 Crore; (USD 6.5 Million); QoQ growth of 58.9% in USD terms and 71.0% in INR terms
— EPS for the quarter – INR 8.32; QoQ growth of 73%
*Average Forex Rate: INR 54.22 = 1 USD
Q1 FY13 key highlights for the quarter ended June 30, 2011
— Strong revenue growth despite the BOT transition and no revenue from the Uttaranchal APDRP project.
— Global employee headcount stood at 4335; an increase of 347 over the last quarter.
— Cash increased to INR 183 Crore from INR 156 Crore; INR 5.1 Crore in Free Cash Flow.
— Acquired state-of-the-art IT labs from two of our Telecom OEM clients both in India and the US.
— DSO decreased to 102 from 114 days in the previous quarter.
— Enhanced the executive management and sales team in the US. Hired head of US Sales and IMS.
— Broad based growth across the top 10 clients. Faster rate of growth in some of the clients recently acquired.
— Added three new clients and four major deals during the quarter with significant traction in some of the existing Telecom, Healthcare & Mobility Clients.
— We have 58 active clients. Out of which on an LTM basis, we have 17 USD 1 mn+ clients, 11 clients with USD 5 mn+, 5 clients with USD 10 mn+ revenue and 4 clients with USD 20mn+ revenue.
— Contribution from the top client dropped to 34.6% from 36.5% in Q4.
Infinite Computer Solutions (India) Limited is a global service provider of Application Management, Infrastructure Management, Product Engineering Services as well as Mobility and Messaging Solutions in the telecom, healthcare, media and content, energy and utilities, and BFSI verticals. The Company provides services comprising Application Management Outsourcing, Packaged Application Services, Independent Validation and Verification, Product Development and Support as well as value-added offerings like Managed Platform Services and Product Engineering Services. The Company has offices in India, US, UK, China, Malaysia, Singapore and Hong Kong which includes 5 delivery centers in India and 4 in US.
For more details please visit our website www.infinite.com or contact,
Sanjeev Gulati, Infinite
Diwakar Pingle, Christensen +91 22 4215 0210
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