Wednesday, July 23, 2014

#Geometric reports 24.6% rise in Q1 net profit

Geometric has posted a consolidated net profit of Rs19.2 crore in the quarter ended 30 June, up 24.6% from Rs.15.4 crore in the year-ago period. On a sequential basis, net profit rose 185.7% from Rs6.72 crore in the quarter ended 31 March.

Highlights for the quarter ended June 20, 2014 (Q1 FY15)

·         The Company recorded operating revenues of USD 44.96 Mn, as against revenues of USD     44.29 Mn in the previous quarter, and USD 46.45 Mn in the corresponding quarter last year
·         The Profit after tax rose 185.2% and 24.6% to INR 192.08 Mn from INR 67.35 Mn in Q4FY14 and INR 154.14 Mn in Q1FY14 respectively
·         Signed new deals worth USD 8.08 Mn
·         EPS for the quarter at INR 3.02
In Rupee terms, the Company closed the quarter with operating revenues of INR 2,688.45 Mn compared to revenues of INR 2,733.62 Mn in the last quarter and an increase of 3.3% from INR 2,602.75 Mn in Q1FY14. The EBITDA margins saw a healthy improvement from 10.4% in the previous quarter, and 15.6% in the same quarter last year, to 17.3% in Q1FY15. The Company’s EBITDA stood at INR 463.81 Mn, a rise of 63.6% and 13.9% from INR 283.47 Mn in the preceding quarter and INR 407.20 Mn in Q1FY14 respectively.

Mr. Manu Parpia, Managing Director & CEO said, “Our results reflect our continuing recovery driven by  growth in our automotive vertical, supported by a return to growth by the large industrial customer which had seen serious decline in revenues last year. We believe the momentum will continue over the next few quarters, and it is our desire to accelerate the growth. The next quarter result will reflect the impact of salary revisions, which are in line with the industry.”

The company had a total employee strength of over 4500 employees as of June 30, 2014, including its subsidiaries.