MUMBAI, India. Jan 16, 2017: Geometric Ltd. (BSE: 532312, NSE: GEOMETRIC) announced its third quarter financial results for FY 2016-2017 at the board meeting held today.
Highlights for the quarter ended December 31, 2016 (Q3 FY17 – IND AS)
- Total revenues in USD terms down by 0.1% Q-o-Q and rose by 3.7% Y-o-Y to USD 36.86 Mn in Q3 FY17 compared to USD 36.88 Mn in Q2 FY17 and USD 35.54 Mn in Q3 FY16
- Consolidated net profit after tax at INR 447.20 Mn for the quarter, as against 396.15 Mn for the previous quarter and INR 276.93 Mn for the same quarter last year
- Signed new deals worth USD 18.04 Mn
- Annualized attrition for the quarter at 10.0%
- Consolidated EPS for the quarter at INR 6.78
Under Indian GAAP, the Company declared operating revenues of INR 3479.54 Mn for the quarter, a growth of 1.2% when compared to revenues of INR 3437.18 Mn in the previous quarter and a growth of 10.5% when compared to revenues of INR 3148.46 Mn in the corresponding quarter last year. Q-o-Q Company’s consolidated EBITDA margin grew to 24.5% in Q3 FY17 as against 22.9% in Q2FY17 and 20.1% in Q3 FY16.
Mr. Manu Parpia, Managing Director & CEO said, “While some of our units have seen a decline in revenue over the previous quarter, these have been compensated by better performance in others. As a result we are delighted that the hard work put in by the team is being translated into a set of consistently improving results. We believe this will be the last quarter when we will report results as an independent company.”
The company had total employee strength of over 4800 employees as on December 31, 2016, including its subsidiaries.
Key wins and Business highlights for Q3 FY17:
The Company signed new deals worth USD 18.04 Mn. Some of the significant wins in this quarter include:
- Won several PLM initiatives for a Japanese Automotive OEM
- Awarded a Software Development Project for a leading Technology company in USA Won Multiple programs on MFG Engineering for a leading Automotive OEM in North America
- Awarded various initiatives on MFG Engineering for a leading Auto OEM from Sweden for Europe and China Programs
- Selected by a leading North American Automotive Tier-1 to Deploy Geometric’s DFx Technology
- Won a Mechanical Design Services contract for a leading Wind Energy OEM
- Won a major fixed price 3-year contract for engineering services
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 (under Indian GAAP) of Rupees 12.33 billion (US Dollars 188.49 million) for the year ended March 2016. It employs over 4800 people across 14 global delivery locations in the US, France, Germany, Romania, India, and China. Geometric has been assessed at Maturity Level 3 for CMMI 1.3-Development and CMMI 1.3-Services for its Software and Engineering Services business units and is ISO 9001:2008 certified for engineering operations. The company’s operations are also ISO 27001:2005 certified.