Financial Technologies' H1FY2007 revenues increase by 111%, H1FY2007 PAT up 58% to Rs. 43 crore

* PAT up 58% to Rs. 43 crore
* H1FY2007 revenues increase by 111%
* Second interim dividend of 40% announced

Mumbai, October 31, 2006: Financial Technologies (India) Limited (Financial Technologies), India’s leading technology solutions provider for capital, commodities and forex markets, today announced its unaudited financial results for the half year ended September 30, 2006.

*Consolidated Performance Highlights
H1FY2007 (April-September 2006) vs. H1FY2006 (April-September 2005)

• Consolidated total income increased by 111% to Rs. 148.45 crore. The current H1FY2007 performance is reflective of continued licensing growth achieved in our suite of products in the equities and commodity trading segments. The Company’s sales of trading licenses for the half year ended September 2006 was exceeding 25,000 compared with 15,000 in the corresponding period last year.
  
  MCX and DGCX continued to witness strong growth momentum on the back of exponential increase in trade volumes and membership base. Compared with an average trade turnover of Rs. 4,969 crore in July-September last year, MCX recorded an average trade turnover of Rs.13,961 crore in July-September this year.
• EBITDA was higher by 96% at Rs. 87.45 crore. Overall cost base was up 119% primarily on consolidation of initial start-up costs incurred by subsidiaries and expansion in MCX and DGCX operations.
• Profit before tax stood at Rs. 83.49 crore, higher by 97% y-o-y.
• PAT (after minority interest and exceptional items) increased by 58% at Rs. 43.16 crore.
• Diluted EPS for the half year ended September 2006 amounted to Rs. 9.77 compared to Rs.6.14 reported last year.
• The Board of Directors have recommended a second interim dividend of 40%. The total dividend recommended in the first half of the year aggregates to 80%.

Standalone Performance Highlights
H1FY2007 (April-September 2006) vs. H1FY2006 (April-September 2005)

• Total Revenues increased by 47% to Rs. 64.22 crore.
• Profit before tax was up 32% to Rs. 41.59 crore.
• PAT expanded by 43% at Rs. 36.44 crore.

Commenting on Financial Technologies’ H1FY2007 performance, Jignesh Shah, Chairman & Managing Director of Financial Technologies, said, "Our performance reflects the potential of our model to create sustained value over the long-term. Our core technology business continues to remain robust and provides an anchor-point to multiple new business ventures that we are incubating. The business initiatives such as MCX and DGCX have already demonstrated their ability to create significant value on the back of continued strategic and operational support from Financial Technologies. I am confident that all the other ventures that we are presently establishing will also make evident the robustness of our differentiated business model that goes beyond the conventional dollar per hour, quarter on quarter and sum of parts models. There is, therefore, no doubt that all of us at Financial Technologies are looking forward to the future with a lot of anticipation."

Source : Equity Bulls

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