19 January 2009
Geometric’s Q3 Operating Revenues Increase 31.6%
Geometric Limited announced the Company’s financial results for the quarter ending December 31, 2008. The company’s operating revenues increased 31.6% y-o-y and 6.9% sequentially to Rs.1,630.78 Mn (USD 33.31 Mn).
The operating profits of the company more than tripled to Rs.242.00 Mn as compared to operating profits of Rs.75.59 Mn in Q3 FY08. In sequential terms, the operating profits increased 76.7% from Rs.136.46 Mn in Q2FY09.
The Company reported a decline in PAT (before prior period adjustments) from Rs.47.16 Mn to Rs.18.27 Mn sequentially on account of foreign exchange losses of Rs.189.32 Mn, including a provision on Rs.21.97 Mn towards possible future currency losses.
Commenting on the results, Dr. Ravi Gopinath, Managing Director and CEO of Geometric Limited, said, “The external environment, particularly the global manufacturing sector, continues to pose challenges. While we ride this period out, we have focused our efforts on improving operating efficiencies. This has manifested itself in improvements in contribution and SG&A, resulting in operating profit improvements, beyond those realized from a favorable exchange rate.”
Added 7 new customers during Q3, taking the total number of active customers to 123. Total value of new business closed in Q3 was USD 5.4 Mn. Some of the significant contracts are with:
• A global medical equipment vendor for outsourced product development. This is the second significant addition to the list of customers in the medical imaging space
• A leading US company in agricultural and construction equipment for providing manufacturing engineering services
• A global automotive Tier I manufacturer for eDrawings product. eDrawings will be adapted by the customer as their default light weight viewer globally
• A leading European high-tech company for product development • One of the world’s leading tire companies for PLM implementation and support in Europe
• A major PLM product vendor. This is the company’s first product development deal in China.
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