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Omnitech Q3 revenue up by 34 p.c YoY

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CIOL Bureau
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MUMBAI, INDIA: Omnitech InfoSolutions Ltd, India’s Business Availability and Business Continuity Solutions provider, today announced that it has registered 34 per cent growth in revenues on a stand alone basis for the third quarter ended December 31, 2009 as compared to the corresponding period last year.

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The total revenue for the third quarter of the financial year 09-10 is Rs 58.1 crore as compared to Rs 43.33 crore for the corresponding period last year, said a press release.

The company’s profit after tax stood at Rs 10.2 crore as compared to Rs 8.02 crore for the same period last year.

The standalone Year-to-date (YTD) revenues of the company is Rs 152.3 crore as against Rs 131.83 crore to the corresponding period last year; and YTD profit after tax is Rs 26.82 crore an increase of 27 per cent YoY.

Commenting on the Q3 FY09-10 results, Atul Hemani, managing director, Omnitech InfoSolutions Ltd said that the strong revenue growth was on account of breaking of new accounts and completion of the transition of few major contracts. “This growth is also fueled by our end to end IT outsourcing services which are very much appreciated by the SME’s and we feel that this could be a growth driver for us in the years to come,” Hemani added.

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