8K Miles Software Services has been a big buzzer this week, up 20 percent in the first three days. In an interview to CNBC-TV18, Suresh Venkatachari, Chairman & Chief Executive Officer of 8K Miles spoke about the latest happenings in his company and sector.
In an interview to CNBC-TV18, Suresh Venkatachari, Chairman & CEO of 8K Miles Software Services spoke about the company’s Q4 performance and the outlook going forward.
In an interview to CNBC-TV18, Suresh Venkatachari, Chairman & CEO of 8K Miles Software Services spoke about the results and his outlook for the company.
The US-subsidiary of 8K Miles Software Services has entered into a definitive agreement to acquire Cornerstone Advisors Group. Speaking to CNBC-TV18, Suresh Venkatachari, Chairman & CEO, 8K Miles hopes Cornerstone meets the expectation of 34-35 percent margins after combining with 8K Miles.
Jump on first quarter revenues and bottomline is on back on new clients - four in healthcare and two in pharma sector, says Suresh Venkatachari, Chairman & CEO of 8K Miles.
8K Miles Software Services is offering a service model which will improve margins over a longer period of time, says Suresh Venkatachari, Chairman and CEO of the company.
Speaking to CNBC-TV18, Suresh Venkatachari, Chairman & CIO of the company says that the business has been restructured into multiple strategic business units (SBUs) that will help in maximizing growth.
Suresh Venkatachari, Chairman and CEO, 8K Miles says the company is still identifying opportunities in banking and capital markets space.
Suresh Venkatachari, Chairman and Chief Executive Officer of 8k Miles is hopeful of long-term growth in the market on account of a strong cloud adaptation pattern by various companies.
Suresh Venkatachari, Chairman and CEO of 8K Miles says earliest adaptation in cloud computing helped the company outperform its peers.
The company reported over 100 percent growth year-on-year (YOY) in revenue (141 percent), margins (146 percent) and profits (129 percent).
8K Miles is constantly looking at organic and inorganic growth opportunities. The key focus areas of the company are healthcare and pharma, says Suresh Venkatachari, chairman and chief executive officer of the company.
8K Miles has acquired a Canadian-based startup, with a less-than-half-million-dollar revenues, chairman and CEO Suresh Venkatachari told CNBC-TV18‘s Nigel D‘Souza in an interview.
Suresh Venkatachari of 8K Miles says at the moment the company has no plans to raise capital, but may explore going ahead. He is also evaluating more options on the acquisition front.
Suresh Venkatachari of 8K Miles says total warrant size is Rs 55 crore and it will be utilized for funding Serj Solution acquisition and organic growth. The company has already started the integration of Serj Solution.
The company is looking at one or two more acquisition opportunities in the near-term and is likely to complete an acquisition in FY15. They are looking at opportunities in healthcare and lifescience space, said Venkatachari of 8K Miles.
In the second quarter ended September 30, 2014, the cloud-based solutions provider 8K Miles Software delivered strong set of numbers. It posted a profit after tax of Rs 4.14 crore, up 31.43 crore compared to Rs 3.15 crore in previous quarter.