Sasken Q3 FY18-19 result announced

Bengaluru, January 21, 2019: 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 December 31, 2018.

Rajiv C Mody, Chairman, Managing Director & CEO, Sasken Technologies Limited remarked: Our newly established Automotive Centre of Excellence in Detroit will provide us the strategic advantage to offer development services to our customers in the Automotive Electronics segment. This centre will help us consolidate our position as being a leading provider of highly differentiated services for Auto OEMs and Tier 1 vendors. We are also pleased that our new business initiatives have now fructified and will do our best to scale them. We are continuing the dialogue with our customer to resolve the scope change issues which we highlighted last quarter. Finally, my management team and I remain optimistic about our business prospects and outlook.

Performance Snapshot for the Quarter: Q3 FY 19

  • Consolidated Revenues for Q3 FY 19 at Rs.121.41 Crore
    • Up 7.4 % sequentially over the previous quarter
    • Down 7.9 % YoY from Q3 FY 18
  • Consolidated EBIDTA for Q3 FY 19 at Rs.12.65 Crore
    • Down 5.0 % sequentially over the previous quarter
    • Down 22.8 % YoY from Q3 FY 18
  • Consolidated PAT for Q3 FY 19 at Rs.18.07 Crore
    • Up 7.0 % sequentially over the previous quarter
    • Down 11.3 % YoY from Q3 FY 18
    • PAT Margins for the quarter at 14.9 %

Key Business metrics for the Quarter: Q3 FY 19

  • Software services revenues for Q3 FY 19 at Rs.121.41 Crore
    • Up 7.4 % sequentially over the previous quarter
    • Down 7.9 % YoY from Q3 FY 18
  • Consolidated EBIDTA margins were at 10.4 %.
  • Revenue contribution from
    • The Top five customers stood at 52.2 % and
    • From Top 10 customers at 66.8 %
  • Consolidated EPS was at Rs.10.58 for the quarter
  • Added 10 new customers during the quarter taking the total number of active customers to 98

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

About Sasken
Sasken is a specialist in Product Engineering and Digital Transformation providing conceptto- market, chip-to-cognition R&D services to global leaders in Semiconductor, Automotive, Industrials, Smart Devices & Wearables, Enterprise Grade Devices, SatCom, and Transportation industries. For over 30 years and with multiple patents, Sasken has transformed the businesses of over a 100 Fortune 500 companies, powering over a billion devices through its services and IP.

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.

Swami Krishnan
VP Corporate Communication & EE
T: +91 9743979264