CIMdata PLM Industry Summary Online Archive
22 January 2010
Financial News
Geometric Net Profit Rises 58.7% to Reach Rs 162.41 Mn; Records revenues of USD 27.13 Mn for the quarter, an increase of 2.2% Q-o-Q
Geometric Ltd. announced its Q3 FY 2009‐10 financial results.
Highlights for quarter ended December 31, 2009
- An increase in EBITDA to Rs 266.23 Mn from Rs 197.13 Mn last quarter, a growth of 35% Q-o-Q and from Rs 125.24 Mn same quarter last year, a Y-o-Y increase of 113%
- Profit after tax from ordinary activities increased to Rs 163.33 Mn, a rise of 62.9% over last quarter
- Revenues increased 2.2% in dollar terms to USD 27.13 Mn from USD 26.54 Mn in Q2FY10
- Added 10 new customers this quarter
Geometric continued its focus on driving operational efficiencies and profitable growth with higher offshore leverage and improved utilization.
Geometric declared operating revenues of Rs 1,268.75 Mn this quarter, as compared to Rs. 1,281.93 Mn in the previous quarter. While revenues in dollar terms grew by 2.2% over the previous quarter, unfavorable movement of the forex rate this quarter accounted for the even revenues, in rupee terms. The Profit before tax increased, by 63.3% over the last quarter and 219% on a Y-o-Y basis, to Rs 202.03 Mn. The Profit after tax (after extraordinary items) also significantly increased to Rs 162.41 Mn from Rs 102.36 Mn, a rise of 58.7% Q-o-Q and Rs 17.64 Mn in Q3FY09, an increase of over 820%.
Announcing the results, Mr. Ravishankar G., Managing Director & CEO said, “The third quarter is traditionally a slow quarter for the IT industry on account of the holiday season in most of our major markets. This quarter, we remain focused on our business specific strategies of achieving profitable growth, at an overall level. The structural realignment brought about in Q4 09 is helping us tremendously in this objective. We also continued our efforts to optimize on our operating levers, and thereby, drive profitability of our businesses; resulting in an improved EPS of Rs 2.61.”
Business Highlights
The Company added 10 new customers during Q3, and at the end of the quarter, Geometric had 105 active customers, including 19 million dollar plus customers. Some of the significant wins this quarter include:
- A product lifecycle management solution customization project for a Japanese automotive OEM
- Acquisition of a new customer in the healthcare space with a combined offering of software development and product engineering
- Plant redesign and layout work for a new industrial customer
- Engineering product design for one of the largest automotive OEM, a testimony to the strength of our partnership in the current times
- Extension of an existing maintenance and support contract with a European industrial major
Other important business highlights for the quarter include:
- CAMWorks®, our intuitive CAM product was recognized for increasing productivity and speeding up operations by our clients - Roush Industries and CP Pistons
- Release of the Pro/Engineer version of GeomCaliper 2.4 with improved accuracy through the use of PTC’s GRANITE Interoperability Kernel
- Release of NestLib® 2009 R3 with improvements in algorithms for material utilization for sheet metal punching
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