Geometric Ltd has announced its Q3 financial results for FY 2011-2012 at the board meeting held today.
Highlights for the quarter ended December 31, 2011
Consolidated revenues rise to Rs. 2,190.37 mn; a rise of 14.5% from the previous quarter revenues of Rs. 1,912.30 mn, and 34.2% from Rs. 1,632.02 mn in Q3FY11.
Operating Profits rose significantly to Rs. 310.45 mn, a 54.6% increase from the last quarter
profits of Rs. 200.83 Mn and more than doubled from Q3FY11 profits of Rs. 134.52 Mn.
Added nine new customers
An EPS of Rs. 3.40
Geometric Ltd. has recorded an increase in Net Profit of Rs. 212.57mn from Q2FY12 profit of Rs 133.89mn and Q3FY11profit of Rs 152.73mn, a rise of 58.8% QoQ and 39.2% YoY, respectively.
The company’s operating revenues in US Dollar terms rose to USD 42.60 Mn in Q3FY12 from USD 41.40Mn in Q2FY12 and USD 36.25 mn in Q3FY11; an increase of 2.9% and 17.5% respectively. The favorable movement of the dollar-rupee ratio, helped declare higher revenues in rupee terms.
Geometric Ltd. has recorded an increase in Net Profit of Rs. 212.57mn from Q2FY12 profit of Rs 133.89mn and Q3FY11profit of Rs 152.73mn, a rise of 58.8% QoQ and 39.2% YoY, respectively.Consolidated revenues rose to Rs 2,190.37 Mn; a rise of 14.5% from the previous quarterrevenues of Rs 1,912.30 Mn, and a gain of 34.2% compared to revenues of Rs 1,632.02 Mn in Q3FY11.
Operating Profits rose significantly to Rs 310.45 Mn, a 54.6% increase from the last quarter operating profit of Rs. 200.83 Mn and more than doubled from Q3FY11 operating profit of Rs 134.52 Mn.
The favorable movement of the dollar-rupee ratio, helped declare higher revenues in rupee terms, Geometric said in a statement.
Geometric added nine new customers in the quarter under review.
Geometric, including its subsidiaries, had over 4400 employees at the end of the October-December quarter.
Highlights for the nine-months ended December 31, 2011
The company’s cumulative revenues for the three quarters of FY12 stood at Rs. 5,829.56 Mn, a rise of 29.4% from revenues of Rs. 4,505.82 for the same period in FY11. Revenues in USD terms for the nine month period also rose 24.3% to USD 122.60 Mn from USD 98.63 Mn in the same period last year.
The net profits recorded for FY12 till the end of Q3 were Rs. 463.88 Mn, 16.9% higher than the profits of Rs. 396.77 Mn for the similar period last year. This resulted in an EPS rise to Rs. 7.41 compared to the nine month period EPS of Rs. 6.37 in FY11.
On declaring the results, Manu Parpia, Managing Director & CEO said, “The third quarter for IT companies is traditionally a flat quarter. This quarter we saw the benefits of our efforts towards improving our operations, and better utilization rates. The forex fluctuation has also had a positive impact on our operations, and we see continued volatility in the forex rates going into Q4. Despite the crisis in Europe and macro-economic conditions, or rather because of it, I see customers increasingly turning towards their offshoring partners for bringing in efficiencies.”
Key wins and additional business highlights for Q3 FY12
The company added nine new customers during Q3; and new revenues of USD 3.55 Mn. Some of the significant wins in this quarter are:
An application development for automatic design validation on NX platform for a world’s leading distributor of aerospace equipment
Won a process planning engagement with a precision machined components and subassemblies manufacturer in North America
Strengthening our technical documentation engagement for manufacturing instructions with a leading industrial turbine company to cover global locations in North America, South America
and Europe
Oracle Agile PLM implementation to streamline and enable integrated food and other consumables development process for a leading CPG manufacturer from India
Plant layout design and optimization engagement with a global FMCG company for its plant in North Africa
KBE application support with the world’s leading earthmoving equipment company
Application development for laser template software for a leading player in the precision cutting industry
PLM application integration to enable global engineering processes for a world’s leading Auto OEM
Started a key relationship with a leading mining equipment manufacturer by providing product engineering services