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Follow UsBANGALORE: Scandent Solutions Corporation Ltd announced today its results of operations for the September 05 quarter.
Total revenues for this quarter were $ 18,256,598 (Rs 797,625,048) compared to total revenues of $ 17,776,492 (Rs 774,998,169) for the previous quarter, a growth of 2.7 %. The growth in revenue over the corresponding period previous financial year was 24.8%.
Operating income was $ 3,152,154 (Rs 137,716,608) up by 9.2 %, compared with an operating income of $ 2,886,078 (Rs 125,823,765) for the previous quarter.
The growth in operating income over the corresponding period previous financial year was 67.6%. For the quarter ended Sept 30, 2005 total earnings after taxes were $ 1,936,435 (Rs 84,602,229) compared to $1,696,891 (Rs 73,979,006) for the previous quarter, an increase of 14.1%. The growth in net profit over the corresponding period previous financial year was 21.8%.
The company's earnings per share on a fully diluted basis for the quarter was Rs. 2.89. On an annualized basis the earnings per share was Rs.11.56.
This is the fifth quarter of sequential growth in revenues and operating income after the company consummated its merger with the IT division of SSI Ltd.
The company's three core verticals, Banking, Financial Services and Insurance (BFSI), Government and Manufacturing & Logistics, contributed 30%, 23% and 47% of the Sep' 05 Qtr revenues respectively. The US operations of the company contributed 69% of the total revenues with its Asia Pacific operations at 16% and Europe at 15%.
The company has been successful in increasing its operating and net margins on a sustained basis over the last 5 quarters. The operating margins have improved from 13% in Sep 04 to 17% in Sep 05. The net profit margins excluding extraordinary items improved from 7% to 11% in the same period.
The company added 18 new clients during this quarter and the number of clients with an annual revenue run rate tracking at greater than $1 million increased to 15 from 14 in the previous quarter.