Financial Software testing pioneers, Thinksoft Global Services Ltd. (BSE:533121) (NSE: THINKSOFT), announced its second quarter results ended on 30th September’ 2013. Thinksoft Global Services is a specialist in financial and banking software testing services, and is the only listed independent testing service provider in India. The results are available on the company’s website, http://www.thinksoftglobal.com.
PERFORMANCE HIGHLIGHTS
Consolidated Q-o-Q Review
— Operating revenue was Rs. 50.4 crore during the quarter under review as compared to Rs. 43.0 crore during the sequential previous quarter reflecting an increase of 17% in rupee terms and in USD by 6% to $ 7.9 Mn
— Total income was Rs. 55.4 crore during the quarter under review as compared to Rs. 48.6 crore during the sequential previous quarter, an increase of 14 % and in USD by 3 % to $ 8.7 Mn
— The Company reported EBIDTA of Rs. 11.7 crore as compared to Rs. 10.7 crore during the sequential previous quarter
— EBITDA Margin stood at 23.1% for Q2FY14 as against 25.0% in Q1FY14
— Net profit stood at Rs. 10.6 crore during the quarter under review as compared to Rs. 10.3 crore during the sequential previous quarter, an increase of 3%
— Basic EPS stood at Rs. 10.4, increase of 3% on sequential basis
Consolidated 6m Review
— The operating revenue was Rs. 93.5 crore during the quarter under review as compared to Rs. 82.4 crore during the corresponding period of previous year reflecting an increase of 13% in rupee terms
— Total income was Rs. 104.0 crore for the 6m period ended September 2013 as compared to Rs. 83.1 crore in the corresponding period of the previous year
— EBIDTA stood at Rs. 22.4 crore during the quarter under review as compared to Rs. 16.8 crore during the corresponding period of previous year
— EBITDA Margin at 24.0% during the period under review as against 20.4% in 6m ended September 30, 2012, up 358 bps
— Net profit stood at Rs. 20.8 crore 6m ended September 30, 2013 as compared to Net profit of Rs. 11.3 crore in the corresponding period of the previous year an increase of 85% over the corresponding period previous year
— Basic EPS stood at Rs. 20.5, increase of 83% over the same period last year
Commenting on the results, Mr. A.V. Asvini Kumar, Chairman & Managing Director, Thinksoft Global, said “The Company saw a strong/ improved performance during the 6 months period, with operating revenues increasing by 13% and net profits increasing by 85% compared to the previous 6 months period. The Cards & Payments segment and the Europe geography has been the key driver for growth during the quarter. We are confident that the growth momentum will continue as we ramp different segments of our business.
