CIMdata PLM Industry Summary Online Archive
20 October 2008
Financial News
Geometric’s Q2 Operating Profit Doubles
Geometric Limited announced the Company’s financial results for the quarter ending September 30, 2008. The operating profits for the quarter increased from Rupees 70.77 Mn in Q1 to Rupees 136.46 Mn in Q2.
The Company recorded consolidated operating revenue of Rupees 1,525.95 Mn (USD 34.65 Mn), a sequential increase of 3.8% in US Dollar terms and 8.7% in Rupee terms. In YOY terms, revenues increased by 13.5% and 24.6% in US Dollar and Rupee terms respectively. The Company’s profit after tax (PAT) before extraordinary income, also increased from Rupees 37.65 Mn in Q1 FY09 to Rupees 47.16 Mn in the current quarter.
Commenting on the results, Dr. Ravi Gopinath, Managing Director and CEO said, “Our operating profit margin improved from 5.0% in the previous quarter to 8.9% in this quarter, helped by a favourable exchange rate, increase in offshoring across businesses, and a tight control on our SG&A expenses. While our direct exposure to the BFSI sector is nil, there is a noticeable associated slowdown in our key verticals. Our go to market strategy founded on driving business oriented solutions has enabled us to achieve profitable growth despite the prevailing economic conditions.”
Business Highlights
The Company’s geometry-based search engine algorithm that allows users to search 3D models based on shape, was granted a patent by the US Patent and Trademark Office. Geometric signed a strategic agreement with a leading global supplier of industrial automation and information software solutions, to deliver manufacturing IT solutions to end-customers of the two companies.
Geometric added new business worth USD 6.7 million. It added 15 new customers this quarter, taking the total number of active clients to 140. Some of the significant contracts are with:
• A leading PLM software vendor for outsourced product development. This is a significant addition in the list of existing customers in PLM space
• A global leading provider of drilling and production systems to the Oil and Gas industry for PLM implementation
• A US Automotive major for product design of the Powertrain on a single source basis
• A leading European shipbuilding and marine engineering software company for their product development
• One of the world’s leading Automotive Tier I players for PLM support in China
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