- Consumer Electronics
- Enterprise Devices
- Product Engineering
Sasken Q3 FY20-21 result announced
Sasken Q3 FY20-21 result announced
Bengaluru, January 20, 2021: Sasken Technologies (BSE: 532663, NSE: SASKEN) today announced its consolidated results as per Ind AS for the quarter and nine months ended December 31, 2020.
Rajiv C Mody, Chairman, Managing Director & CEO Sasken Technologies remarked: Customers in the Communications & Devices segment are showing a propensity for partnering for the development and sustenance of both existing and new products lines. We are seeing good traction in our Android space with long-term business opportunities that requires us to be commercially aggressive. 5G is promising but we are still in the early days. We are working to scale our commercial footprint in 5G and the automotive space which is showing signs of leaving behind the COVID-19 induced deceleration. Overall, there are signals of a ramp in the product engineering and digital spends as companies need to remain competitive.
As always, we are mining our enviable list of customers with whom we have long standing relations to increase our share of wallet. We remain vigilant and are confident of navigating the challenges to continue to be a ‘business partner of choice in the new-normal’.
Performance Snapshot for the Quarter: Q3 FY 21
- Consolidated Revenues for Q3 FY 21 at ₹113.89 Crore
- Up 6.2 % sequentially over the previous quarter
- Down 4.3 % YoY from Q3 FY 20
- Consolidated EBIT for Q3 FY 21 at ₹32.68 Crore
- Up 34.5 % sequentially over the previous quarter
- Up 53.4 % YoY from Q3 FY 20
- EBIT Margins for the quarter at 28.7 %
- Consolidated PAT for Q3 FY 21 at ₹33.90 Crore
- Up 45.6 % sequentially over the previous quarter
- Up 44.6 % YoY from Q3 FY 20
- PAT Margins for the quarter at 29.7 %
- Revenue contribution from
- The Top five customers stood at 42.0 % and
- From Top 10 customers at 65.0 %
- Consolidated EPS was at ₹ 22.57 for the quarter
- Added 4 new customers during the quarter taking the total number of active customers to 79
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
Sasken is a specialist in Product Engineering and Digital Transformation providing concept-tomarket, chip-to-cognition R&D services to global leaders in Semiconductor, Automotive, Industrials, Consumer Electronics, Enterprise Devices, SatCom, Telecom, and Transportation industries. For over 30 years and with multiple patents, Sasken has transformed the businesses of 100+ Fortune 500 companies, powering more than 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.