MUMBAI, India, July 31 /PRNewswire-FirstCall/ --
- PAT (Standalone) Expands 179% to Rs. 1,699 Million
- The Board Declared Interim Dividend of 200%
Financial Technologies (India) Limited today announced its reviewed unaudited financial results for the quarter ended June 30, 2008.
Highlights:
- Total income increased by 146% to Rs. 2,540 million in Q1
2008-09.
- PAT increased by 179% to Rs. 1,699 million.
- Declared an interim dividend of 200%.
Commenting on the results, Mr. Dewang Neralla, Whole Time Director, Financial Technologies, said: "Financial Technologies continues to sustain its growth momentum with a strong start to the year. We showed our commitment to creating exchanges by announcing the setting-up of Singapore Mercantile Exchange (SMX) on July 9. SMX will be Asia's first multi-commodity international derivatives exchange based in Singapore. We will continue doing our best to contribute towards enhancing our shareholders' value, with long-term vision."
The Indian Energy Exchange (IEX), another exchange promoted by Financial Technologies, has commenced operations. IEX is India's first national-level, electronic trading platform for electricity. The initial response to the initiative has been very encouraging and has been commended by the Union Minister of Power.
The National Spot Exchange Ltd (NSEL), promoted by Financial Technologies, has elicited overwhelming response to the launch of its membership drive. NSEL is a pan-India electronic spot market for agricultural and other commodities.
"While our existing businesses continue to deliver a robust operating performance, our new initiatives provide us a platform to deliver superior shareholder returns in the future," Mr, Neralla said.
"Our commitment to our customers and to the development of quality products and services for them has clearly translated into robust financial results. We have also recently launched FTNET, a network platform to automate the end-to-end flow of transactions for institutions leading to high operational and functional efficiencies for the market participants," Mr. Neralla added.
Financial Technologies' ecosystem venture, National Bulk Handling Corporation (NBHC), has reported significant growth that is expected to contribute towards enterprise value enhancement over subsequent reporting periods. As on June 30, 2008, NBHC facilitated cumulative funding worth US$ 1.25 billion and managing over 3,300 storage facilities with 4 million MT stocks worth US$1.71 billion.
"We take pride to announce that MCX has won the 'Golden Peacock Eco-Innovation Award 2008."
Key Business Highlights
Comparative periods:
Q1 2008-09 (April-June 2008) vs. Q1 2007-08 (April-June 2007)
- Total income has increased by 146% to Rs. 2,540 million in
Q1 2008-09 as compared to Rs.1031 million in Q1 2007-08.
- EBITDA has increased by 167% to Rs. 2,191 million in Q1
2008-09 as compared to Rs. 822 million in Q1 2007-08.
- EBITDA margin has increased to 86% in Q1 2008-09 as compared
to 80% in Q1 2007-08.
- PBT up by 167% to Rs. 2,176 million in Q1 2008-09 as
compared to Rs. 814 million in Q1 2007-08.
- PAT increased by 179% at Rs. 1,699 million in Q1 2008-09 as
compared to Rs. 610 million in Q1 2007-08.
- Diluted EPS for the quarter increased to Rs. 36.93 as
compared to Rs. 9.69 in corresponding quarter of 2007-08.
About Financial Technologies (India) Ltd
Financial Technologies (India) Limited (http://www.ftindia.com) is a US$1.84 billion (market capitalization, NSE: FINANTECH, BSE: FlNTECH) global leader in creating and operating technology-centric, next-generation financial markets that are transparent, efficient, and liquid, across multi-asset-classes including equities, commodities, currency and bond among others.
Our highly robust and scalable exchange and trading technology platform (Intellectual Property), coupled with deep domain expertise, gives us a decisive edge in driving mass disruptive innovation at a speed and cost of execution that are unmatched in the financial markets. This expertise uniquely positions Financial Technologies and helps create electronic, organized, and regulated financial markets for 'new asset classes' and 'new investor classes' that are either underserved or economically unviable to serve by traditional companies.
Our markets transform lives of people by democratizing global trade and economy and propagating the benefits of 'price discovery', 'trade efficiency', 'risk hedging', and 'structured finance' to the masses. These benefits in turn create inclusive and equitable growth by unlocking value from the middle and bottom of the socio-economic pyramid.
ODIN(TM), the flagship brokerage solution suite, is used by an estimated 80% of the brokers of the Indian transaction automation market.
DOME(TM) is the leading 'Exchange Platform of Choice' to set up and operate next-generation markets.
Exchange Ventures
Financial Technologies has set up the following eight exchange ventures:
- MCX (http://www.mcxindia.com): India's No. 1 multi-commodity
futures exchange
- DGCX, Dubai (http://www.dgcx.ae): First international commodity and
currency derivatives market in the Middle East.
- IBS Forex (http://www.ibsfx.com): India's No. 3 inter-bank foreign
exchange platform
- NSEL (http://www.nseap.com): A pan-India electronic spot market for
agri commodities trading
- IEX (http://www.iexindia.com): India's first power exchange for
trading in electricity
- SNX (http://www.snxindia.com): India's first spot exchange for
trading in perishable commodities
- GBOT (http://www.gbot.mu): an electronic exchange to serve as a
gateway to the African continent.
- SMX (http://www.smx.com.sg): First international Pan-Asian
derivatives exchange, that will provide a single platform for multi
product trade between Asia and the world
Ecosystem Ventures
Financial Technologies has set up the following six ecosystem ventures to complement the business of exchange ventures:
- NBHC (http://www.nbhcindia.com): Pan-India warehouse network
platform to offer organized markets for rural lending
- TickerPlant Infovending (http://www.tickerplantindia.com): a retail
financial information distribution platform
- atom technologies (http://www.atomtech.in): Platform to enable 'any
transaction on mobile'.
- Riskraft Consulting (http://www.riskraft.com): Financial risk
management solutions.
- FT Knowledge Management Company Limited (http://www.ftkmc.com): The
knowledge hub of the Financial Technologies Group.
- FTME (http://www.ft-me.com): Leading technology enterprise
delivering mission critical Straight- Through-Processing (STP)
solutions
Safe Harbour Statement:
Certain statements made in this release with reference to future operations and performance of Financial Technologies, its subsidiaries, and other group companies are forward-looking statements, involving risks and uncertainties. Certain factors could cause actual results to differ materially from those in such forward-looking statements. The company does not undertake responsibility to update any forward-looking statement that may be made from time to time by or on behalf of the company.
* MCX is India's No. 1 Commodity Exchange. Source: FMC website (http://www.fmc.gov.in) based on turnover in terms of value for FY 07.
For further information, contact:
Rahul Jain, Corporate Communications,
Financial Technologies (India) Limited,
Contact No: +91-22-67152000,
Mobile No.: +91-9867567534,
Email Id: rahul.jain@ftindia.com;
S. Jena, Public Relations,
MelCole Public Relations,
Contact No: +91-11-29834428, +91-11-29833118,
Mobile No.: +91-9820096620,
Email Id: suvrendu_jena@melcole.com;
Miten Mehta, Director - Communications and Investor Relations,
Financial Technologies (India) Limited,
Contact No: +91-22-67152000,
Mobile No.: +91-9867552322,
Email Id: miten.mehta@ftindia.com
SOURCE Financial Technologies (India) Limited
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