Saksoft Announces Q2 Results; Impressive Growth in Revenues and Profits

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Saksoft Limited

29 Oct, 2013, 17:00 IST

CHENNAI, October 29, 2013 /PRNewswire/ --

Alignment to Information Management Specialization is Paying Off

Saksoft Limited (BSE: 590051) (NSE: SAKSOFT), an Information Management Specialist company, announced its second quarter results ended on 30th September' 2013 at the board meeting held today. The results are available on the company's website, www.saksoft.com.

Review of financial performance for the quarter ended 30th September, 2013

Consolidated Quarter Review (Y-o-Y) (Q2 2013-14 vs. Q2 2012-13)

  • Operating revenue was Rs. 59.91 crore during the quarter under review as compared to Rs. 37.67 crore during the same quarter in the previous year; an increase of 59%.
  • Total income was Rs. 60.77 crore during the quarter under review as compared to Rs. 37.50 crore, up by 62%.
  • EBITDA stood at Rs. 7.52 crore for the quarter under review as compared to Rs. 4.40 crore in Q2 FY12-13 up by 71%.
  • Net profit stood at Rs. 4.47 crore in the current quarter as against Rs. 2.54 crore in Q2 FY12-13, up by 76%.
  • Basic EPS for the quarter stood at Rs. 4.65 as against Rs. 2.64 in Q2 FY12-13.

Consolidated Sequential Review (Q-o-Q) (Q2 2013-14 vs. Q1 2013-14)

  • Operating revenue was Rs. 59.91 crore as compared to Rs. 52.62 crore during the corresponding period of previous quarter reflecting an increase of 14%.
  • Total income was Rs. 60.77 crore for the quarter as compared to Rs. 52.80 crores growing 15% on a Q-o-Q basis.
  • EBITDA stood at Rs. 7.52 crore as compared to Rs 5.11 crore during Q1 of FY 13-14. A growth of 47% on Q-o-Q basis.
  • Net profit stood at Rs. 4.47 crore for Q2 of FY13-14 as compared to Net profit of Rs. 3.32 crore in Q1 of FY 13-14, growing by 35%.
  • Basic EPS stood at Rs. 4.65 for the current quarter ending 30 September 2013 as against Rs. 3.45 in the previous quarter.

Commenting on the results, Mr. Aditya Krishna, Managing Director, Saksoft Limited, said,

"We have had a great quarter; current clients renewed their contracts and have committed more business. Revival of some past relationships has started showing its impact on revenues and profits. Information Management continues to be the focus and drives the company's directions for meeting its stated objectives."

About Saksoft Limited

Saksoft is a leading provider of Information Management Solutions to successful companies around the world. We deliver success to the enterprise by helping consolidate, organize and manage large volumes of data collected by businesses.  Working with data sources that are often disparate and complex, we make accurate, high quality, relevant information readily available to the people that need it. By being better informed, these companies are empowered to make key decisions and implement strategies for making their enterprises successful. Visit www.saksoft.com.

Primary Media Contact: Sampath Rengachari, [email protected], 91-8754416789