Bangalore, 18 July 2017

Press Releases

Bangalore, 18 July 2017

Sasken Q1 FY17-18 result announced.

Sasken Technologies Limited (formerly Sasken Communication Technologies Limited) (BSE: 532663, NSE: SASKEN) today announced its consolidated results as per Ind AS for the quarter ended June 30, 2017.

Speaking on the occasion, Rajiv C Mody, Chairman, Managing Director & CEO, Sasken Technologies Limited said, "In this quarter, our revenues have remained flat. We are confident that our engineering DNA will help us tap the opportunities in the segments we operate in.  We are encouraged by the market traction for both our product engineering and digital IT services as investments continue to fuel the growth of the digital enterprise." 

Performance Snapshot for the Quarter: Q1 FY 18

  • Consolidated Revenues for Q1 FY 18 at ₹117.58 Crore  
    • Down 0.1 % sequentially over the previous quarter  
    • Down 3.0 % YoY from Q1 FY 17
  • Consolidated EBIDTA for Q1 FY 18 at ₹12.82 Crore  
    • Down 14.9 % sequentially over the previous quarter
    • Down 31.6 % YoY from Q1 FY 17 
  • Consolidated PAT for Q1 FY 18 at ₹17.30 Crore  
    • Down 60.1 % sequentially over the previous quarter 
    • Down 14.4 % YoY from Q1 FY 17 
    • PAT Margins for the quarter at 14.8 % 

Key Business metrics for the Quarter: Q1 FY 18

  • Software services revenues for Q1 FY 18 at ₹117.58 Crore  
    • Down 0.1 % sequentially over the previous quarter 
    • Down 3.0 % YoY from Q1 FY 17  
  • Consolidated EBIDTA margins were at 11.0 % 
  • Revenue contribution from
    • The Top 5 customers stood at 43.5 % and
    • from Top 10 customers at  64.4 % 
  • Consolidated EPS was at ₹ 10.11 for the quarter
  • Added 6 new customers during the quarter taking the total number of active customers to 129

A fact sheet providing the operating metrics of the company and a presentation for analysts can be downloaded from the investor section of the corporate website www.sasken.com.

About Sasken

Sasken is a specialist in Product Engineering and Digital Transformation providing concept-to-market, chip-to-cognition R&D services to global leaders in Semiconductor, Automotive, Industrials, Smart Devices & Wearables, Enterprise Grade Devices, Satcom, and Retail industries. With over 27 years in Product Engineering and Digital Transformation and 70 patents, Sasken has transformed the businesses of over a 100 Fortune 500 companies, powering over a billion devices through its services and IP.

Sasken’s solutions are backed by CMMI-DEV-V1.3-ML3, ISO 9001 (QMS) and ISO/IEC 27001 (ISMS) certifications. Sasken’s proprietary quality management system strengthen its business offerings and ensure client satisfaction. Sasken’s commitment to the environment, health and safety are backed by its ISO 14001 (EMS) certification.

For further information please visit www.sasken.com

Disclaimer on Forward Looking Statements:
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.

Spokesperson:
Swami Krishnan
VP Corporate Communication & EE
E: pr@sasken.com
T: +91 9743979264