Highlights for the quarter ended June 30, 2019
Consolidated Revenues in Q1FY20 were at INR 67.89 Cr, up 7.6% from INR 63.07 Cr in Q1FY19.
Profit before tax (PBT) at INR 4.60 Cr for Q1FY20, up 43.7% from INR 3.20 Cr in Q1FY19.
Profit after tax (PAT) at INR 3.36 Cr for Q1FY20, up 59.5% from INR 2.10 Cr in Q1FY19.
Earnings per share (EPS) reported at INR 2.11 per share for Q1FY20, up 57.5% from INR 1.34 per share in Q1FY19.
Commenting on the performance of the Company, the Executive Chairman, Mr. Harish Mehta said, “I am happy to report that we had a good quarter, with continuous improvements in the topline. We continue to witness growing opportunities across all our verticals; Automotive, Industrials, Consumer goods and Off-highway. Additionally, our focus on Embedded Products & Systems Development, Data Analytics & Digital Transformation, will further enable us to improve the quality of revenues, while continuing in our endeavor to improve our margins. Stronger together, we are confident that our revenue momentum will continue in Q2 and beyond.”
About Onward Technologies Limited
Founded in 1991, Onward Technologies is recognised as a Global Engineering and IT Services company providing integrated product development solutions and services to Fortune 1000 customers. Onward Technologies provides services in Mechanical, Electrical & Controls Engineering, Embedded Products & Systems Development, Mobile & Enterprise Software Development Data Analytics & Digital Transformation, Robotic Business Process Automation, and Enterprise Managed Services for Infrastructure, Applications & Databases.
Onward Technologies employs more than 2500 Engineers and Consultants who are dedicated to provide expert consulting and value-added services to customers in the Automotive, Aerospace, Off-Highway, Industrial Equipment & Machinery, Healthcare & Laboratory Equipment, Pharmaceutical & Life Sciences, and Banking, Financial Services & Insurance industry domains. Its strategic alliances with large enterprise software OEMs help in providing a comprehensive range of end-to-end solutions and services.
Onward Technologies has Engineering Design and Delivery Centres in India as well as Sales Offices across the globe – in Chicago, Detroit, & Cleveland in North America, Birmingham in the United Kingdom; Frankfurt in Germany; and Mumbai, Pune, & Chennai in India. All our 12 offices across the Americas, Europe and India are equipped with state of the art and secure infrastructure, equipment and facilities that aim to provide our customers with business continuity support, as well as proximity and access to a world class resource and talent pool.
Follow Onward Technologies on LinkedIn @ https://www.linkedin.com/company/onward-technologies/. (BSE: 517536 & NSE: ONWARDTEC)
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