Glodyne Q3 net up 76 pc - CIOL News Reports

Glodyne Q3 net up 76 pc

Net profit for the nine months ending December 31 stood at Rs. 54.82 Cr; EPS is Rs. 17.60

Thursday, January 29, 2009

MUMBAI, INDIA: Glodyne Technoserve Ltd, an IT services company with prime focus on Technology Infrastructure Management Services, reported today its consolidated financial results for the quarter ending December 31, 2008.

The company reported net profit of Rs. 19.54 crore, YoY growth 76 per cent. The net profit for the nine months ending December 31, 2008 stood at Rs. 54.82 crore, a YoY growth of 99 per cent, said a press release.

The EPS reported was at Rs. 17.60 against Rs. 10.23 last year and the EBITDA at Rs. 28.34 crore ,YoY growth of 86 per cent with margin of 21.91 per cent.

“We have delivered a decent performance in a challenging environment. Challenges create new avenues for growth; we are determined to improve operating metrics and strengthen our business model despite the uncertainties facing the global markets,” said Annand Sarnaaik, chairman and managing director, Glodyne Technologies.

Nine new clients were added in the quarter by Glodyne and its subsidiaries, said the release. For the financial year 2009, consolidated revenue on organic basis is revised upwards and is expected to be in the range of Rs. 491 crore–496 crore from the earlier guidance of Rs. 465 crore–487 crore.

For the second quarter of FY 2008-09, consolidated revenue on organic basis is expected to be between Rs. 131 crore–136 crore, the release added.

©CyberMedia News

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