A revenue rise of 3.3% q-o-q and 4.9% y-o-y
MUMBAI, India. Janu 28, 2015: Geometric Ltd. (BSE: 532312, NSE: GEOMETRIC) announced its third quarter financial results for FY 2014-2015 at the board meeting held today.
Highlights for the quarter ended December 31, 2014 (Q3 FY15)
- In Dollar terms, revenues rise 1% q-o-q and 5% y-o-y to USD 46.6 Mn
- Signed new deals worth USD 13.09 Mn, highest in the last two years
- Improvement in retention levels, with attrition for the quarter at 12.2% compared to 14.8% in the previous quarter
- EPS for the quarter at INR 2.56
The Company recorded operating revenues of INR 2,888.89 Mn for the quarter ended December 31, 2014, as against INR 2,796.67 Mn in the previous quarter and INR 2,752.80 Mn in the corresponding quarter last year; a growth of 3.3% and 4.9% respectively. The Company’s revenue excluding its joint venture company rose 4.8% and 10% to INR 2,154.22 Mn from INR 2,056.18 Mn in Q2FY15 and INR 1,958.97 Mn in Q3FY14 respectively. In dollar terms, this revenue growth excluding the joint venture company was at 2.4% q-o-q and 10% y-o-y which was effected by the continued weakness of the Euro. In constant currency terms though Geometric’s USD revenues excluding its joint venture company saw a growth of 4.1% q-o-q. Profit after tax stood at INR 163.75 Mn when compared with profits of INR 162.90 Mn in the previous quarter and INR 75.27 Mn in Q3FY14.
Mr. Manu Parpia, Managing Director & CEO said, “We believe our substantial re-structuring is beginning to pay off. Despite being a traditionally weak quarter, we saw growth across our verticals. The Company is increasingly being invited to participate in strategic conversations, which will lead to improvement in revenue both quantitatively and qualitatively.”
The company had a total employee strength of over 4800 employees as of December 31, 2014, including its subsidiaries.
Key wins and additional business highlights for Q3 FY15
The Company signed new deals worth USD 13.09 Mn. Some of the significant wins in this quarter include:
- Entered a software product development deal with a leading independent software vendor
- Started an application management services engagement with a European Automotive OEM
- Won an enterprise DFx implementation project with a leading Aerospace OEM in North America
- Began a software product development services contract with shipping major in North America
- Awarded a PLM integration project for a leading aerospace OEM in North America
- Entered a manufacturing engineering project with a leading Auto OEM
- Signed a PLM services project with a leading Chinese Auto OEM
Other important business highlights for the quarter include :
- Signed an MoU with College of Engineering, Pune and Colorado State University for setting up a 3D printing lab and promoting additive manufacturing in India. Geometric to invest INR 12 Mn for this initiative.
- Partnered with Machining Training Solutions to deliver state-of-the-art training programs at Eastern Florida State University to fill the growing demand for skilled, advanced technology positions critical for leading U.S. manufacturers competing on a global scale
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 10.95 billion (US Dollars 181.39 million) for the year ended March 2014. It employs about 4400 people across 12 global delivery locations in the US, 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.
The copyright/ trademarks of all products referenced herein are held by their respective companies.
For more information, please contact: