Chennai, Tamil Nadu, India
-- Impressive Growth Continues
-- Company Forecasts Revenue to Exceed $USD 16 Million in FY
2006-07
Quintegra Solutions Ltd., (NSE: Quintegra), a leading provider of software solutions and services, has announced its financial results for the third quarter and nine-month period ended December 31, 2006.
Highlights - Third Quarter 2006-07
-- Quarterly revenue increased to Rs 17.33 Crore, up 104% from the year-ago quarter.
-- Quarterly net profit rose to Rs 1.81 Crore, up 91% from corresponding quarter last year.
Revenue for the third quarter stood at Rs. 17.33 crores as against Rs. 8.50 crores for the corresponding period last year. The Net Profit was Rs. 1.81 Crores as against Rs. 95 lakhs of the same period of last year. Compared to previous quarter ended 30th September 2006, the company's Revenue grew by 15% in the third quarter ended 31 December 2006, while the Net profit jumped by 55% to Rs. 1.81 Crores from Rs. 1.17 Crores.
"Our re organization and new business model helped us in achieving the above results. We will achieve 50% Annual growth in the next 3 years," says Mr. Shankarraman Vaidyanathan, chairman and managing director, Quintegra Solutions Ltd.
Highlights - Nine Months Period - FY 2006-07
-- 9-month revenue rose to Rs 45.57 crore, a growth of 69% over the same period last year.
-- 9-month net profit increased to Rs 4.38 crore, up by 115% over the same period last year.
-- On a fully diluted and non-annualized basis the Company's EPS stands at Rs 0.68 and Rs 1.64 for the quarter ended and nine months ended 31 December 2006 respectively.
The Company's Revenue stood at Rs. 45.57 Crores for the nine months period ended 31 December 2006 as against Rs. 26.98 Crores for the corresponding period of the previous year. The Net Profit for the nine months period ended 31 December 2006 was Rs. 4.38 Crores as against Rs. 2.04 Crores for the same period of the previous year.
"We have added 6 new clients in this quarter, says Mr. Shankarraman Vaidyanathan, chairman and managing director, Quintegra Solutions Ltd.
Business Highlights
The company has set up one more development centre in Malaysia which can house more than 200 people. It has invested over US $ 1 million for its Malaysian presence.
2007 Outlook - First Quarter & Full Year
Quintegra is looking at acquiring two companies, one in United States and another in Asia Pacific before end of this financial year. With the finalization of new acquisitions, Quintegra's total staff strength would go up to 750 in this financial year from 350 last year.
To view the tables, please click on the link given below:
http://www.businesswireindia.com/attachments/Quintegra_Solutions_Results.xls
Viswanathan, Manager, Quintegra Solutions Ltd., +91 99401 91174 visu@quintegrasolutions.com
Source: Quintegra Solutions Ltd. (Business Wire India)
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