AGC Networks Q3 2013 Revenues Stand at INR 249 Crs; Grows 3% Year on Year and YTD Revenues Stand at INR 777 Crs, Grows 12% Over Previous Year
MUMBAI, February 13, 2013 /PRNewswire/ --
AGC Networks Limited, a Global ICT Solutions provider and Integrator in Unified Communications, Network Infrastructure, Data Centre & Virtualization and Enterprise Applications and a subsidiary of Aegis Limited, an Essar enterprise, today announced financial results for Q3, FY13.
Financial Highlights (YTD-Q3'FY13 as compared to YTD-Q3'FY12)
- Revenue increased by 12% from INR 695 Crs to INR 777 Crs
- Gross Margins increased by 14% from INR 177 Crs to INR 201 Crs
- EBITDA decreased by 10% from INR 64 Crs to INR 58 Crs
- PAT increased by 15% from INR 40 Crs to INR 45 Crs
FY-13 FY-12 YoY FY-13 FY-12 YTD Q3 Q3 % Growth Q1 to Q3 Q1 to Q3 % Growth Revenue 249 241 3% 777 695 12% Gross Margin 62 63 -2% 201 177 14% Gross Margin % 25% 26% 26% 25% EBIDTA 3 29 -88% 58 64 -10% EBIDTA % 1% 12% 7% 9% PBT 17 23 -26% 50 51 -1% PBT % 7% 9% 6% 7% PAT 14 18 -24% 45 40 15% PAT % 6% 8% 6% 6% EPS (in Rs) 4.9 6.4 -24% 16.0 13.9 15%
- Along with strong performance in the domestic market, AGC Networks continued extending in global markets including the Middle east, Africa and North America region as part of its strategy to expand foothold in different geographies
- Q3 FY13 witnessed significant customer wins in key sectors like Power & Utility, Travel & Hospitality and Education with continuing in roads into BFSI, IT / ITes, Telecom and GPD highlighting the core expertise of offering integrated technology solutions across quadrants
- The Services business and Networking solutions have been large contributors with Storage and Servers showcasing accelerated growth in the quarter
Speaking on the results, Mr. S K Jha, Managing Director & CEO at AGC Networks said, "The present macro-economic scenario across industries has been challenging in the past quarter and we have put key emphasis in working ever so closely with our partners and customers to constantly deliver innovative solutions. Additionally, we are gaining strong foothold in other global markets and will continue to drive momentum with strong traction for our integrated solutions."
Mr. Kunjal Mehta, Vice President, Finance, AGC Networks said, "Constant focus on delivering operational efficiency to our customers has led to maintaining our profit margins despite tough economic environment. While the business growth in domestic market is intact, we will continue to focus on expanding our solution offerings to build a long term growth strategy."
About AGC Networks:
AGC Networks Ltd. (BSE: 500463 and NSE: AGCNET) is a Global Solutions Integrator in Unified Communications, Network infrastructure, Data Center & Virtualization and Enterprise Applications. We deliver technology based solutions across quadrants and applications that are layered with a spectrum of services to clients in verticals like BFSI, IT / ITes, Manufacturing, Hospitality and Healthcare. These customized business solutions help organizations accelerate revenue growth, increase market penetration, optimize operating costs and improve employee productivity, by embedding technology solutions in their business processes. AGC has always been committed to enabling superior customer experience and offering best returns on their technology investments. AGC partners with global leaders like Avaya, Juniper, NICE Systems, Aspect, Verint, HP, Polycom, Cisco, Microsoft, NEC, Sony, Plantronics, EMC, Dialogic, NetApp, Checkpoint and Jabra among others. AGC Networks is a subsidiary of Aegis Limited, an Essar Enterprise. For more information visit http://www.agcnetworks.com.
Aegis is a global outsourcing and technology company committed to impacting clients' business outcomes by focusing on enhancing customer experience across all touch points and channels. Aegis was founded 30 years ago in the US and now has operations in 56 locations across 13 countries with more than 55,000 employees. Aegis services over 300 clients from verticals such as Banking, Financial Services & Insurance, Technology, Telecom, Healthcare, Travel & Hospitality, Consumer Goods, Retail, and Energy & Utilities. The company is wholly owned by the Essar Group, a USD 27 billion conglomerate.
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SOURCE AGC Networks