CIOL:Sasken Q3 revenues up

MUMBAI: Sasken Communication Technologies Limited today posted an increase of 73 per cent in consolidated revenues at Rs 131.02 crore for third quarter ended December 31, 2006, as against Rs 75.94 crore corresponding quarter of the previous year.

The company posted profit after tax at Rs 11.87 crore an increase by 71 per cent YoY compared to a profit before exceptional item of Rs 6.95 crore in Q3 of fiscal 2005-06 when the company had to spend about Rs 6.8 crore to settle a litigation, bringing down its Profit after tax to Rs 18 lakh.

Commenting on the performance Rajiv Mody, chairman and CEO, Sasken, said, “The Sasken Group has had a strong year so far. For the first nine months of this year, our revenues have grown 48 per cent and net profits have grown 95 per cent. Our services business has delivered 57 per cent growth rate in revenues YTD.”

“Our services efficiencies are improving and we held our EBITDA margins at 22.9 per cent in Q3, despite the adverse impact of the currency,” he added.

A net total of 139 people were added this quarter (Gross Adds of 350), taking the total employee strength to 3,512 as on December 31, 2006. The company added 11 new customers during the quarter; a total of 76 active customers during the year.

“As we go towards the next orbit of growth, we are aware of the need to have high quality management expertise to steer us there. With this perspective, we have inducted some senior people into our management team. We have a new head for Worldwide Sales, an expanded Sales team and a new business CTO, all of whom come from global communication majors,” Rajiv added.

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