Records revenues of INR 2,865.36 Mn, and PAT of INR 165.66 Mn
MUMBAI, India, October 21, 2013: Geometric Ltd. (BSE: 532312, NSE: GEOMETRIC) announced its Q2 financial results for FY 2013 - 2014 at the board meeting held today.
Highlights for the quarter ended September 30, 2013 (Q2 FY14)
- Operating Profit rises 41% q-o-q
- Profit after tax increases 7.5% compared to last quarter
- Contribution margin improved to 41.2% as against 37% in Q1FY14 and 37.9% in Q2FY13
- Salary increases given across all global offices effective July 1, 2013
- USD revenues stood at USD 46.26 Mn as against USD 46.45 Mn last quarter
- Added one new customer and won new deals worth USD 5.03 Mn
- EPS for the quarter INR 2.62 is higher by 7.4% over previous quarter
The Company declared consolidated revenues of INR 2865.36 Mn an increase of 10.1% q-o-q and 9.5% y-o-y from INR 2,602.75 Mn in Q1FY14 and INR 2,615.84 Mn in Q2FY13. The Company’s operating profits rose to INR 529.07 Mn from INR 372.90 Mn last quarter and INR 477.37 Mn in the same quarter last year, a growth of 41.9% and 10.8% respectively, due to higher contribution margins. The Profit after Tax (PAT) for the quarter was at INR 165.66 Mn as compared to INR 154.14 Mn in the previous quarter and INR 178.89 Mn in the corresponding quarter last year.
Mr. Manu Parpia, Managing Director & CEO, Geometric Limited said, “While our expectations from FY14 continue to be flat, we are seeing an increase in our pipeline by 30% Q on Q. Our conversations with our customers and trends in the industry are encouraging; and with the transformations that are taking place within the Company, we are positioning ourselves for scalable growth in FY15.”
Key wins and additional business highlights for Q2 FY14
During the quarter, the company signed new deals worth USD 5.03 Mn including:
- Won a project to develop an assembly cost estimation application for a leading Oil and Gas engineering company in Europe
- Started a new engagement with a joint venture company of a Chinese and European automotive company for PLM services
- New opportunities won to provide 3D modeling and engineering illustration services to one of the world’s leading aerospace and defense companies in North America
- Started a new engagement with an aerospace company from Australia for application migration and PLM implementation
- A new engineering project to do the volume control analysis of designs for a leading equipment supplier for the semiconductor industry
- Won a new marquee customer in the aerospace technology space for enterprise implementation of our design for manufacturability solution, DFMPro®
- Reinforcement of product development engagement with a leading PLM ISV
Other important business highlights for the quarter include :
- Made an equity investment in Anark Corporation, a leading provider of automated 3D CAD visualization solutions; thus strengthening a strategic partnership
- Launched a stand-alone design validation solution, Geometric DFX supporting multiple CAD formats including CATIA® V5, Inventor®, etc.
Geometric is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services, Product Lifecycle Management (PLM) solutions, Embedded System solutions, and Digital Technology solutions enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.
Listed on the Bombay and National stock exchanges in India, the company recorded consolidated revenues of Rupees 10.20 billion (US Dollars 187.57 million) for the year ended March 2013. It employs about 4500 people across 13 global delivery locations in the US, the UK, France, Germany, Romania, India, and China. Geometric was assessed as CMMI 1.1 Level 5 for its software services and is ISO 9001:2008 certified for engineering operations. The company’s operations are also ISO 27001:2005 certified.
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Kavita Karnani | +91.20.40284496 | Email Contact