CyberTech Offshore revenue up 66%

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CyberTech Systems and Software Limited today announced results for the first quarter ended June 30, 2007.

 

Highlights - Consolidated

• Revenue increased by 9% to Rs. 19.75 cr.
• Offshore Revenue increased by 66% to Rs. 5.17 cr. and contributed 28% of Software Revenue
•  Net Profit increased by 14% to Rs. 1.46 cr.
• Rupee appreciation affected Revenue and Net Profit. The company has suitable hedging policy to mitigate such impact. 

Commenting on the performance, Mr. Viswanath Tadimety, Chairman, said, "Our focus on services around SAP and GIS with emphasis on offshore development has started paying off." Services CyberTech provides SAP, GIS, custom business applications and networking solutions.

 

The company has proprietary state-of-the-art advanced technology centers equipped with latest SAP environment to develop end-to-end solutions and tools. It has been working as a part of development and support team with ESRI with strong focus on SAPESRI integration. Networking practice is focused on providing resources to its joint venture company, which is a Cisco Systems strategic partner.

 

Clients

The company caters to Commercial Enterprise Sector (60% of revenue) and Public Sector (40% of revenue). Focus on quality of services has ensured continuous customer loyalty as indicated by 90% contracts renewal. Some of its customers include:

 

SAP Services

• Utility construction services company - leader in natural gas industry for 30 years -         a million dollar customer
• 6th largest district in California with over 200 schools and 8000 employees - annual budget of $500 million
• Value-added procurement service provider to a large automotive systems company with aggressive plans to grow in other companies and sectors
•  Leading supplier of electricity meters - track record of 100 years
•  Global supplier of specialty chemicals - presence in 100 countries
•  Leading provider of digital document management technologies - revenue of US $ 3.7 billion 

GIS Services

• Market leader in GIS software products - software provider to over 2/3rds of
• Fortune 500 companies - a million dollar customer
• Sixth and seventh largest cities in US
•  Leading pharmacy chain - 5000 stores in US 

Customs Business Applications

• Major trust bank in Japan - track record of over 80 years
•  World's second largest airline catering company - presence in 34 countries
•  Large firm with high performance audio, entertainment, IT and communications systems for automotive industry
• System integrator with history of 130 years 

Outlook

CyberTech plans to grow business through mining existing large customers and winning new customers due to strong relationships with SAP and ESRI. The company has added some new clients in SAP, GIS and Networking practice. It is targeting to capture networking market in Asian and Middle East countries. The company has been recently selected from a small group of partners to work on a product pioneered jointly by SAP and Microsoft. Substantial real estate at Andheri and Thane would continue to generate

free cash flow which can be used productively to sustain growth momentum.

 

Sourced From: Equicorp