Dhanus Tech registers growth of 113%

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Dhanus Technologies Limited (BSE Scrip code: 532903; NSE Scrip code DHANUS.NS), one of India's fastest growing telecommunications companies, today announced the results for the 9 months period ending March 2008. The company has registered an impressive turnover of Rs. 51.71 crore for the quarter January - March 2008, while the turnover for the quarter ended March 2007 was Rs. 24.32 crore. The turnover for the 9 months ended March 2008 stood at Rs. 122.43 crore, as against a turnover of Rs. 59.49 crore for the 9 months ended March 2007. The net profit for the quarter ended March 2008 stood at Rs. 13.65 crore.

 

Commenting on the performance of the company, Mr. V. Narayanaswamy, Managing Director, Dhanus Technologies Limited, said, "We are excited about our performance for the quarter, January to March 2008. This period has been significant for us in many ways. We have launched our Fleetrac services in Kerala, in collaboration with the State private bus operators. We see greater growth opportunity as our focus on telecom and telematics sector has paid rich dividends for the quarter and the 9 months period. We are also confident based on our 9 months performance that we would be achieving close to 100% growth on revenues for the fiscal ending June 2008 as compared to the same period last year."

 

The consolidated earnings per share for the quarter ended March 2008 is Rs. 32.21, while the consolidated earnings per share for the 9 months ended March 2007 was Rs. 21.70.  The company follows the July - June financial year.

 

It is to be noted that during this quarter ending March 2008, Dhanus had bagged orders to implement their Fleetrac service with added Passenger Information systems in more than 30,000 buses in Kerala and acquired Sreeven Infocomm marking Dhanus' foray into e-Governance segment. Borusan Telecom and Sreeven Infocomm acquisition will add further fuel to the growth of Dhanus Technologies in the coming fiscal.

 

Dhanus' robust product offerings and vision in Telecom and Telematics has ensured that the company would be revising their guidance given for the financial year ending June 2008 to 186 crores, a growth of nearly 100% from last year. Dhanus' focus on offerings in Telematics services through its Fleetrac, will be in 3 areas which includes supply chain management, fleet management and safety.

 

Segment wise Outlook for the year ending June 30, 2008:

 

Telecom:

The company continued to post strong growth of 24% Quarter on Quarter without diversification or launch of new products and expects higher revenues from this segment as the demand for V-Tel calling cards would go up due to the holiday season and increased international travel. In the next quarter, the company intends to diversify the V-Tel bouquet of offerings and this will have a significant impact on the top line in the I Quarter of the next fiscal.

 

IT/ITES:

Software services division would continue to grow and has been a steady earner on account of its mature portfolio of robust products. The Software business also being cyclical, the companies QII earnings has been significant and this segment will grow at 22% in the next quarter ending June 08.

 

The increase in income in the BPO vertical has been on the higher side at 42% and this has been primarily due to the new segment of Healthcare that the company has ventured into. This vertical would continue to grow in the next quarter at 23% Quarter on Quarter and will see consolidation and robust growth

 

Telematics:

Telematics is a new vertical launched in Q2 and the company released "Fleetrac", Telematic services in the month of November which has been one of the star performers this quarter with an overwhelming growth of over 200% also on account of the fact that this is a start up business for the company. The company has bagged significant orders from bus operators and also added a value addition for providing Passenger Information system. 

 

Sourced From: Hanmer & Partners Communications Pvt. Ltd