Sasken Q1 FY 09 Revenues at Rs 168.1 crores –
up 31%, PAT up 115%
Bangalore, July 18, 2008: Sasken Communication Technologies Limited (BSE: 532663, NSE: SASKEN) today announced its consolidated results according to Indian GAAP for the first quarter ended June 30, 2008.
Performance Snapshot
Consolidated Revenues: Rs 168.1 crore for Q1 FY 09, an increase of 7% over Q4 FY08 and 31 % over corresponding quarter, Q1 FY08.
Consolidated Profit after Tax (PAT): Rs 13.7 crore for Q1 FY 09 an increase of 115 % over the corresponding quarter last year and a QoQ decrease of 7% over Q4 FY 08
Consolidated Basic EPS stands at Rs 4.8 for Q1 FY 09. |
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Key Financial Highlights for the quarter: Q1 FY 09
- Software services revenues grew 7 % Quarter on Quarter from Rs 139.4 crores in Q4 FY 08 to Rs 149.8 crores in Q1 FY 09 and 25% over the corresponding quarter in the previous financial year FY 08. Products revenues grew 3% to Rs 18.2 crores from the previous quarter and by 112% from Rs 8.7 crores in the corresponding quarter in the previous financial year and 3%.
- Consolidated EBIDTA margins were at 21.8%. Services EBIDTA margins for the quarter was at 20.9%. Products EBIDTA margins were at 39%.
- PAT margins for the quarter were at 8.2 % a decrease of 7% over Q4 FY 08 and an increase of 115% over the corresponding quarter in the previous financial year.
- Revenue contribution from the Top five customers stood at 72% and from Top 10 customers at 83%
- Average realized rate for the quarter Rs 42.11/- per US$
- The services business delivered an EPS of Rs 4.82/-
Key Business Highlights for the quarter Q1 FY 08
- A Gross total of 202 employees were added in Q1 FY09.
- Utilization on the services side stands at 76% for the quarter
- Onsite component of services revenues increased to 39% from 36% in the previous quarter. Royalty contribution to product revenues was at 16% as against 24% last quarter.
- 5 new customers added during the quarter taking the total of active customers to 86
Speaking on the results, Sasken CEO Mr. Rajiv Mody added “I am satisfied with the results given the challenging environment that we continue to face. We closed a very significant deal with a key tier 1 handset vendor in the last quarter. This deal enables us to service this tier 1 on their development platform.”
Commenting on the proposed Symbian foundation, Rajiv remarked “We believe that this will empower licensees of the Symbian platform to create more compelling converged devices and better customer experiences, while improving on economics and time to market”.
A fact sheet providing the operating metrics for the company and a presentation for analysts can be downloaded from the investor section of the corporate website www.sasken.com.
Disclaimer
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the Indian IT services industry, including with respect to tax incentives and export benefits, adverse changes in foreign laws, including those relating to outsourcing and immigration, increasing competition in and the conditions of the Indian and global IT services industry, the prices we are able to obtain for our services, wage levels in India for IT professionals, the loss of significant customers the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic and foreign laws, regulations and taxes and changes in competition in the information technology/telecommunication industries. Additional risks that could affect our future operating results are more fully described in our Red herring filing. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company. |
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Investor Relations
Sasken (+91 80 6694 8086)
E-Mail: investor@sasken.com |
Media
Manish T, Adfactors PR
(+91 99455 13552)
Email: pr@sasken.com
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