Hyderabad, Andhra Pradesh, India
Tanla Solutions Ltd, leading telecommunications software and services provider with worldwide operations, today announced results for its Third Quarter, which ended on 31st December 2007.
There has been accelerated growth in revenues and profitability with consolidated Total Income of Rs. 124.03 crores (up from Rs. 56.75 crores in Q3 FY 07) and Net Profit of Rs. 43.27crores (up from Rs. 23.04 crores in Q3 FY 07). EBITDA margins for the concluded quarter stood at 47.62%.
Uday Reddy, Chairman & MD, Tanla Solutions commented on the results by saying that, "We are satisfied with our Q3 FY 08 results and happy to notice a further increase in our market share for premium aggregation services and mobile applications. We have added new accounts this quarter and are experiencing a strong demand for our services from different vertical markets".
Uday Reddy further explained the reasons behind the growth of mobile applications and services by adding that "The mobile sector is entering into a new and interesting phase of market growth and Tanla Solutions is actively contributing to and benefiting from this market expansion. There are three important factors which will continue to fuel growth in this sector."
"Firstly, the introduction of high bandwidth mobile internet services, 3G and multimedia handset capabilities in developed European and American markets is encouraging global brands to launch mobile internet portals and services leading to increased commerce transactions and the consumption of richer content formats and media on handsets."
"Secondly, the continued subscriber growth in developing Asian, African and Latin American Markets is propping the demand for telecommunication infrastructure, mobile content and applications."
"Finally, the convergence of digital media, the internet and mobile is creating an enormous opportunity for companies to develop completely new business models, channels and services. It has become imperative for brands to have a mobile web presence and develop a mobile communications strategy", he concluded.
Highlights for the quarter:
-- Signed Messaging and billing agreements with Airtel, BSNL, Idea, Reliance and Vodafone.
-- Ventured into Spain and South Africa as part of its global geographical expansion plan through strategic partnership with mobile messaging and payment partners.
-- Expanded presence to Dubai and established office situated in International City Dubai.
-- Experienced increased interest in its new mobile payment service "Payforit" which operates in partnership with all UK Mobile Operators including 3,O2, Orange, Vodafone, Virgin Media and T-Mobile.
-- Strengthened senior level management through recruitment of high profile executives for Asia Pacific, Middle East, SAARC regions.
-- Awarded the 'Deloitte Fast 50 award' and ranked Sixth in India as part of the Deloitte survey.
-- Acknowledged as the second fastest growing small company in a research by The Economic Times.
-- US platform (delivery services) to be commissioned by Mid February 2008.
-- Domotics Products Suite testing underway in beta sites.
For more information and to view detailed results visit: www.tanlasolutions.com
Source: Tanla Solutions Limited (Business Wire India)
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