Paradyne Infotech Limited announces September 2006 Quarter Results

Paradyne Infotech Limited, IT Solution Provider head quartered in Mumbai, today announced its results for the quarter ended 30th September 2006 in Mumbai. The Board of Directors of Paradyne Infotech Limited, at its meeting held on 19th October 2006, approved the Unaudited Financial results for the quarter ended 30th September 2006.

The Highlights of the results are:

1) The Revenue for the Quarter stood at Rs. 3024.09 Lakhs, where as the total revenue for the six months ended 30th September 2006 stood at Rs. 5708.73 Lakhs. Total Revenue grew by 12.64 % (Sequential QoQ).

2) The Company’s EBITDA stood at Rs. 468.08 for the quarter and Rs. 859.70 Lakhs for the half year ended September 30, 2006. EBITDA grew by 19.51% (Sequential QoQ)

3) Net Profit before Tax increased from Rs. 334.14 Lakhs to Rs. 396.40 Lakhs, a Sequential Q on Q growth of 18.63 %. The profit before tax for the half year stood at Rs. 730.54 Lakhs

4) Net Profit after Tax increased from Rs. 284.14 Lakhs to Rs. 336.40 Lakhs a Sequential Q on Q growth of 18.39 %. Net Profit after tax for the half year stood at Rs. 620.54 Lakhs.

5) EPS for the quarter is Rs. 3.09.

Commenting on the Results, Mr. Annand Sarnaaik, Managing Director & CEO, said "It has been another quarter of further improvement for by Paradyne. Our efforts to provide value-addition in our service offerings have been well received and acclaimed by Customers. The performance reflects our progress on the growth path and the fructification of our strategies for achieving higher levels of performance in the future. The Company has worked on focused strategies for the two SBUs of the Company - Application Software Services and Technology Infrastructure Management Services. The Software Services and Technology IMS business holds out huge potential and the Company’s growth policies will be focused to tap and optimize the appropriate business opportunities."

"We are equally confident of the Application Software Services Business as also the Technology IMS business." he added. " As a part of the growth strategy, the client acquisition and cross selling of services has been the key factors in boosting the performance of the Company. The Company is open to inorganic growth path as well through synergistic acquisitions to broad base its presence in the other geographies."

"We expect this year to be the founding stone for the exponential growth of the Company in the years to come" Mr. Sarnaaik said.

Source : Equity Bulls

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