Paradyne net profit up 163% YoY for FY07, revenues up 93% YoY for FY07

Mumbai, April 24, 2007 - Paradyne Infotech, an emerging leader in Technology Infrastructure Management Services and Application Software Services today announced its financial results for the fourth quarter and financial year ending March 31, 2007. The company has reported an impressive performance during the period under review.

The organic revenue for FY 2006-07 stands at Rs 13723.58 lacs, up 57% over last year and PAT stands at Rs. 1516.98 lacs, up 103% over last year.

The consolidated revenue for FY 2006-07 stands at Rs 16847.83 lacs, up 93% over last year and PAT stands at Rs. 1961.41 lacs, up 163% over last year. These include revenues from LGI Inc. which was acquired by Paradyne in FY 07.

Commenting on the performance of the company in the quarter, Mr. Annand Sarnaaik, Chairman & MD, Paradyne Infotech, said, "Paradyne’s strong performance in FY 07 is a result of our strong customer focus, building competencies and strategic acquisition. The revenues from both our SBU’s Application Software Services and Technology IMS have seen a robust growth. The results highlight Paradyne’s ability to deliver growth keeping in mind Paradyne’s changing business environment enabling its focus on newer geographies. In line with its recent acquisition in the US Mr. Sarnaaik quoted, "Our strategy included inorganic story which was done with our first acquisition in US of LGI Inc. This would enable Paradyne to establish its foothold firmly within the US markets, thereby proving opportunities in increasing Paradyne’s offshore business mix through continued focus on our Offshore delivery model."

A pleased Mr. Sarnaaik added "We ended the year with robust revenue growth and we continue to make steady progress in line with our objectives. We will continue moving ahead to achieve our goal of enhancing value for all our stakeholders."

Highlights:

Consolidated Results for the year ended March 31, 2007

• Revenue for FY 2006-07 stood at Rs 16847.83 lacs, up 93% over last year
• EBITD for FY 2006-07 stood at Rs 2655.82 lacs, up 142% over last year
• PAT for FY 2006-07 stood at Rs 1961.41 lacs, up 163% over last year
• EPS for FY 2006-07 stands at Rs 18.03, as compared to Rs. 8.24 last year

Standalone Results for the year ended March 31,2007

• Revenue for FY 2006-07 stood at Rs 13351.92 lacs, up 52.6 % over last year
• EBITD for FY 2006-07 stood at Rs 1956.43 lacs, up 85 % over last year
• PAT for FY 2006-07 stood at Rs 1496.62 lacs, up 105 % over last year
• EPS for FY 2006-07 stands at Rs 13.76, as compared to EPS of Rs. 8.05 in FY06

Standalone Results for the quarter ended March 31,2007

• Revenue for Q4 2006-07 stood at Rs 4193.22 lacs, up 81 % over corresponding quarter last year
• EBITD for FY 2006-07 stood at Rs 578 lacs, up 106 % over corresponding quarter last year
• PAT for FY 2006-07 stood at Rs 481.12 lacs, up 139 % over corresponding quarter last year
• EPS for FY 2006-07 stands at Rs 13.95, as compared to EPS of Rs. 1.85 in Q4-FY06

The stock closed the day at Rs.104.60, up by Rs.0.20 or 0.19%. The stock hit an intraday high of Rs.107.50 and low of Rs.103.60. The total traded quantity was 54873 shares at an average price of Rs.105.90 resulting in a turnover of Rs.58.11 Lakhs.

Source : Equity Bulls

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