Net4 registers 33% growth

Net4 India Ltd, a leading IP Communication service provider, today announced its financial results for the year ended March 31, 2008.

The consolidated total income for the year ended March 31, 2008 was Rs.137.63 Cr as compared to Rs. 103.66 Cr recorded during the previous fiscal, an increase of 33%. The PAT grew to Rs. 9.48 Cr against Rs. 7.49 Cr in the previous year; a substantial 27% YOY growth. Total standalone income has increased from Rs. 67.63 Cr for the year ended March 31, 2007 to Rs. 89.63 Cr for the year ended March 31 2008, an increase of 33%. Whilst standalone PAT grew 44% to Rs. 6.49 Cr for the year ended March 31, 2008 as compared to Rs. 4.50 Cr for the year ended March 31, 2007.

Earnings per share for the Consolidated entity grew to Rs. 5.80 Per share, 26% higher as compared to last year’s Rs. 4.61 per share. On a standalone basis, the EPS grew by 43%, from Rs 2.77 to Rs 3.97.

“We are pleased with the results and our overall performance in the last financial year. The Year 2007-2008 has been a year of laying strong foundations for future services whilst remaining focused on our core strengths and adding value to our customers. This fiscal, Net4 has also been listed on the Bombay Stock exchange, thus, strengthening our corporate image amongst the financial community”, said Jasjit Sawhney, CEO, Net 4 Ltd.

Mr. Sawhney continued, “During the last quarter, we commenced our foray into Security Services Space with Net4 Secure and also acquired the Service Based Operator (SBO) license, under our wholly owned subsidiary-Net4 Singapore Pte Ltd. Having made and planned significant ongoing investments in bolstering our Network and Applications infrastructure, we aim to significantly add to our range of Network and Application services this year and these services to be significant revenue drivers in the coming 2-3 years. Our Singapore license and new range of security services has already strengthened our positioning in the International wholesale VoIP business and application services business respectively.

As we look ahead, we remain confident that we shall continue to gain traction across multiple vertical markets, based on the strengths of our people, our ongoing brand building and marketing efforts, the diverse yet highly integrated range of services and technological innovations that put the customer first”

Sourced From: 20 : 20 Media Pvt Ltd