Sasken Q1 Revenues at Rs 91 crore, Increases by 35% YoY, 17% QoQ; Net Profit up by 81% YoY and 38% QoQ

Sasken Communication Technologies Limited (Sasken), a pioneer in telecom R&D outsourcing, today announced results for the first quarter ended June 30, 2006. The consolidated revenues for the quarter ended June 30, 2006 stood at Rs 91.12 crore, in comparison to Rs 67.74 crore for the same period last year (Q1 FY06), registering a growth of 35%. Profit After Tax for the same period stood at Rs 8.65 crore, in comparison to Rs 4.77 crore for the first quarter last year, registering a growth of 81%.

Comparing with the sequential quarter (Q4 FY06), the revenues grew by 17% (Rs 78.05 crore in Q4 FY06) and Profit After Tax grew by 38% (Rs 6.29 crore in Q4 FY06).

Key Financial Highlights for Q1 FY07

• Cash and cash equivalents stand at Rs. 20.67 crore as on June 30, 2006, compared to Rs. 15.15 crore as on March 31, 2006
• Average collection period stands at 82 days in Q1 FY07 in comparison to 80 days during the previous quarter
• The consolidated Forex-hedged position, as on June 30, 2006 was USD 49 Million

• Acquired Integrated SoftTech Solutions (iSoftTech), a 110-people company in Chennai, in April 2006; accounts consolidated from June 1, 2006
• Mexico Development centre ramping up and started contributing to revenues from Q1 FY07
• A net total of 322 people were added this quarter (Gross Adds of 469), taking the total employee strength to 2,897 as on June 30, 2006
• Utilization on the services side stands at 79% in Q1 FY07
• 11 new customers added during the quarter; a total of 48 active customers
• Increase in blended and offshore billing rates
• Revenue contribution from the top five customers stood at 76.7% for Q1 FY07 in comparison to 76.3% for Q4 FY06

Source : Equity Bulls

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