Geometric Ltd. announced its Q3 financial results for FY 2013 - 2014 at the board meeting held today.
Highlights for the quarter ended December 31, 2014 (Q3 FY14)
- Consolidated revenue for the quarter in INR terms at INR 2,752.80 Mn as against INR 2,865.36 Mn in the last quarter, and INR 2,508.34 Mn in the corresponding quarter last year
- Signed new deals worth USD 9.25 Mn
- Added two new customers
- EPS for the quarter at INR 1.19
The Company declared consolidated revenues of USD 44.4 Mn for Q3FY14, compared to USD 46.26 Mn in Q2FY14 and USD 46.31 Mn in Q3FY13. This softening in revenues accompanied by a FOREX loss due to forward covers and subsidiary revaluations, had an impact on the margins of the Company. The Profit after Tax (PAT) stood at INR 75.27 Mn, as against 165.66 MN and 190.96 Mn in the previous quarter and the corresponding quarter last year respectively.
Mr. Manu Parpia, Managing Director & CEO, Geometric Limited said, “As anticipated, the unfortunate effect of the holiday period, combined with a decline in revenues from a large US based customer had a adverse impact on us this quarter. I am pleased to confirm that going forward we will resume our path to growth. We see a revival in demand and have seen an increase in pipeline for the second successive quarter.”
Key wins and additional business highlights for Q3 FY14
During the quarter, the company signed new deals worth USD 9.25 Mn including:
- Multi-million dollar deal for enterprise implementation of our DFX solution at a leading equipment supplier for the semiconductor industry
- Teamcenter PLM implementation and interfacing application development for a leading automotive OEM in Europe
- Expanded our new engagement with the joint venture company of a Chinese and European automotive company for PLM Implementation, configuration and data migration as well as for CAD application development
- CAD Unification and ERP Integration project for a leading Oil & Gas technology company in Europe
- Program to support the product localization process for food processing equipment at the Indian operations of a global equipment manufacturer
- Started a new engagement for Should Costing services for a leading agricultural equipment manufacturer from Europe
Other important business highlights for the quarter include:
- Appointed Nitin Tappe as COO, and John Leney as Global Sales Head (Farming), with effect from January 1, 2014
- Launched version 2014 of our leading CAM solution, CAMWorks
- Launched a revised go to market plan, with a comprehensive sales training program to enable the Company to build a scalable business model