Glodyne Q3 Revenues at Rs 495 cr up 163%

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Glodyne Q3 Revenues at Rs 495 cr up 163%

Glodyne Q3 FY 10 -11 Revenues at Rs 495 cr up 163% YoY

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Q3 FY 10 -11 Revenues at Rs 495 cr up 163% YoY
EBITDA for the quarter up 96% YoY

Glodyne Technoserve (BSE: 532672; NSE: GLODYNE), the leading Technology Infrastructure Management Services Company reported today its consolidated unaudited financial results for the quarter ended December 31, 2010. During the third quarter of the financial year 2010-11 (Q3 FY11), revenue grew by 163 % over Q3 FY10 to Rs. 495 crore. EBITDA grew by 96% over Q3 FY10 to Rs. 86.4 crore. Net profit for Q3 FY11, was Rs. 51.08 crore, up 79% over Q3 FY10. Basic EPS for the quarter was Rs. 19.47 as compared to Rs.12.72 for the corresponding period of the previous year.

Others Highlights:

• 15 new clients added in the quarter by Glodyne and its subsidiaries
• Bags a USD 42 mn IMS deal for servicing a US Retail giant
• Glodyne ranked eighth in the India Inc 500 list of best performing Indian Companies
• Winner of the Deloitte Technology Fast 500 Asia Pacific Program

Business Outlook:

For the fiscal 2010 - 11, consolidated revenue on organic basis has been increased and is expected to be in the range of Rs 1743 - Rs 1765 cr up from the last guidance of Rs 1705 cr - Rs 1735 cr.

Chairman and Managing Director, Mr. Annand Sarnaaik said: "Chairman and Managing Director, Mr. Annand Sarnaaik said: "The quarter saw a strong performance with a revenue growth of 163% year on year and EBITDA growth at 96%. Glodyne DecisionOne Integration progress is going on as per our expectations, and the recent large IMS deal to service one of the largest retailer in US is the reflection of the opportunity going forward. Emphasis on strategy with discipline in execution will help us to strengthen Glodyne's services globally and focus on highlighting our position in sunrise sectors in India. We promise to continue delivering maximum value to the growth of all our clients, partners and stakeholders."