MUMBAI, India. Oct 25, 2016 -- Geometric Ltd. (BSE: 532312, NSE: GEOMETRIC) announced its second quarter financial results for FY 2016-2017 at the board meeting held today.
Highlights for the quarter ended September 30, 2016 (Q2 FY17 – IND AS)
- Total revenues in USD terms rose 5.1% Q-o-Q and 4.9% Y-o-Y to USD 36.88 Mn in Q2 FY17 compared to USD 35.11 Mnin Q1FY17 and USD 35.15 Mnin Q2 FY16
- Consolidated net profit after tax at INR 396.15 Mn for the quarter, as against INR 276.20 Mnfor the previous quarter and INR 217.60 Mn for the same quarter last year
- Signed new deals worth USD 15.05 Mn
- Annualized attrition for the quarter at 13.7%
- Consolidated EPS for the quarter at INR 6.07
- Added one new customer in the Quarter
Under Indian GAAP, the Company declared operating revenues of INR 3,437.18 Mn for the quarter, a growth of 3.3% when compared to revenues of INR 3,328.81 Mn in the previous quarter and a growth of 11.5% when compared to revenues of INR 3,083.52 Mn in the corresponding quarter last year. Q-o-Q Company’s EBITDA margin grew to 22.9% in Q2 FY17 as against 18.6% in Q1FY17 and 17.3% in Q2 FY16.
Mr. Manu Parpia, Managing Director & CEO said, “As the results show, we have been successful not only in increasing our revenues, but also in sustaining the efficiencies we achieved over the last few quarters. Our revenues increased despite a sharp slow down in one of our verticals as other verticals could more than compensate”.
The company had total employee strength of over 4,790 employees as on September 30, 2016, including its subsidiaries.
Key wins and Business highlights for Q2 FY17:
The Company signed new deals worth USD 15.05 Mn. Some of the significant wins in this quarter include:
- Awarded a large Project on Packaging program management from a Automotive OEM in North America
- Won a Manufacturing Engineering Project from a Automotive OEM in North America
- Won Multiple Programs as part of PDM initiative from a leading European Auto OEM
- Awarded a PLM upgrade project from a leading Aircraft OEM’s Helicopter division
- A large engagement for our enterprise DFx solution with a leading ISV
- Selected by a leading Technology company from North America to deploy Geometric’s DFx Technology
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 4700 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.
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