Omnitech InfoSolutions Ltd has announced its standalone financial results for the second quarter ended on September 30, 2009.
The company has registered 11.61 % growth in revenues on a stand alone basis for the second quarter ended September 30, 2009 (Q2) compared to the same period last year. The total revenue for Q2 FY09-10 is Rs 513mn compared to that of Rs 459.6mn for the corresponding period of last year. The Q2 FY09-10 profit after tax is Rs 90.4mn compared to Rs 90.2mn for the same period during the previous year, a growth of 0.20 %.
Half yearly comparison
The standalone revenues of the Company for the financial year six months ended, September 30, 2009 is Rs 94.21 crores compared to that of Rs 885mn for the corresponding period of last year; and profit after tax is Rs 166.2mn (standalone) and Rs 178.6mn (standalone) for the corresponding period of the last year.
Atul Hemani, Managing Director of Omnitech said, “We continue to leverage our strengths of in managed IT services which include remote infrastructure, application and performance management services for robust growth in this quarter. Our growth contribution is twofold, by expanding business offerings to existing clients and by acquiring new customer globally. Our leadership in DR/BCP space is a catalyst to our growth. We expect to achieve further growth by offering vertical industry specific services to BFSI industry and by inorganic growth through cross border M & A.”
During the quarter, the company announced a Joint Venture with a Singapore based technology company Attiva Services Pte. Ltd. Omnitech expects to generate $40 million revenue over a period of 3 years through this JV “Omnitech Services Pte limited”. The company also announced the commencement of wholly owned subsidiary in Netherlands - ‘Omnitech Technologies B.V’ Omnitech expects to generate close to 50 million Euros of revenues over next three years from this subsidiary.