Geometric declares highest Earnings in a quarter
Geometric Ltd. announced its second quarter financial results for FY 2015-2016 at the board meeting held recently.
Highlights for the quarter ended September 30, 2015 (Q2 FY16)
- Consolidated Profit after Tax rose to INR 230.24 Mn this quarter from INR 191.27 Mn in Q1FY16 and INR 162.9 Mn in Q2FY15, a growth of 20.4% q-o-q and 41.3% y-o-y
- Revenue in USD terms grew to USD 47.46 Mn compared to USD 46.80 Mn in the previous quarter and USD 46.12 Mn in the corresponding quarter last year, a rise of 1.4% and 2.9% respectively
- Signed new deals worth USD 12.14 Mn
- Improvement in utilization from 72.7% last quarter to 74.1% this quarter contributed to better margins
- EPS for the quarter at INR 3.57
The Company declared operating revenues of INR 3,083.52 Mn for the quarter, compared to revenues of INR 2,975.55 Mn in the previous quarter and INR 2,796.67 Mn in the corresponding quarter last year reflecting a growth of 3.6% q-o-q and 10.3% y-o-y. The Company’s revenue excluding its joint venture company rose to INR 2,245.86 Mn, a growth of 3.9% from INR 2,162.31 Mn in Q1FY16 and 9.2% from INR 2,056.18 Mn in Q2FY15. The Company’s EBITDA at INR 528.59 Mn showed a marked improvement of 27.0% q-o-q and 22.3% y-o-y.
Mr. Manu Parpia, Managing Director & CEO said, “We have had an exceptional quarter, with significant improvements in profitability for Geometric excluding our joint venture. This is the result of a concerted effort to improve our margins so as to build a sustainable enterprise. We continue to witness growth opportunities across all our verticals, which we believe will enable us to improve the quality of revenues, while continuing in our endeavor to improve our margins”.
The company had a total employee strength of about 4800 employees as of September 30, 2015, including its subsidiaries.
Key wins and additional business highlights for Q2 FY16
The Company signed new deals worth USD 12.14 Mn. Some of the significant wins in this quarter include:
- Signed a multi-million multi-year PLM engagement with a leading Oil & Gas technology company
- Entered into a contract for next generation CAx solution for a manufacturer of orthodontic solutions in North America
- Won a manufacturing engineering deal with a key robotics and factory automation tools manufacturer
- Awarded a PLM services project with a leading Aerospace player in Europe
- Signed an engineering services project with a leading North American Automotive OEM
Other important business highlights for the quarter include:
- Launched a next generation collaboration solution, GeometricEDGE® to enable design and engineering data exchange between OEMs, partners, and joint ventures for global engineering
- Alliance with PDTec, a leading provider of software and services for enterprise wide collaboration in product development
