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Glodyne Q1 net up 50.17 p.c

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CIOL Bureau
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MUMBAI, INDIA: Glodyne Technoserve Limited, a provider of Technology Infrastructure Management Services reported today its consolidated unaudited financial results for the quarter ended June 30, 2010.

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The company posted a net profit of Rs. 34.17 crore, up 50.17 p.c over the first quarter of the previous fiscal.

The revenue was up 38.1 p.c on a year on year (YoY) basis to Rs. 213 crore and the EBITDA grew by 44.46 p.c on YoY basis to Rs. 50.09 crore, the release added.

Basic EPS for the quarter was Rs. 15.09 as compared to Rs.10.16 for the corresponding period of the previous year.

It announced that during the reporting quarter it has acquired DecisionOne Corporation, a technology infrastructure management firm based in North America.

Annand Sarnaaik, chairman and managing Director of the company said, “The quarter saw a strong performance with a revenue growth of 38 p.c on YoY basis and operating margin at 23.51 p.c. We have completed the acquisition of DecisionOne Corporation, in line with our planned strategy of building Glodyne into a strong Technology IMS player from India on the global map.”

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