3i Infotech Limited
Mumbai – May 30, 2015 – 3i Infotech Limited, a global provider of IT solutions and one of India’s largest software product companies, today announced its operating results for the fourth quarter and financial year ended March 31, 2015.
- Operating profit of Q4 2015 expanded 93% YoY
- Operating profit of Q4 2015 increased 42% QoQ vs. Q3 2015
Commenting on the results, Mr. B. Madhivanan, Managing Director & Global CEO, 3i Infotech Limited, said, “The initiatives aimed at streamlining the operations have delivered healthy results as EBITDA for Q4 2015 has risen reasonably over both the preceding quarter as well as last year.”
Consolidated results for the quarter ended March 31, 2015
Revenue from operations for the quarter is INR 305.31 crores as against INR 334.70 crores for the corresponding period of the previous year and INR 319.63 crores in the immediately preceding quarter.
Profit before interest, depreciation, tax and exceptional items is INR 88.27 crores as compared to INR 24.30 crores in the corresponding quarter of the previous year and INR 25.51 crores in the immediately preceeding quarter.
|INR Crores||INR Crores||INR Crores|
|Net Sales/Income from Operations||305.31||334.70||319.63|
|Employee benefit expenses||145.88||215.88||175.53|
|Cost of third prty products/ outsourced services & bought out items||72.54||57.91||59.96|
|Foreign Exchange Loss/ (Gain)||(24.99)||(3.88)||20.43|
|Profit Before Interest, Depreciation and Tax||88.27||24.30||25.51|
The revenue for Q4-FY2014 includes revenue of two of the Company’s subsidiaries, which were divested during Q2 and Q3 of the current year.
Loss after tax for the quarter stands at INR 396.08 crores, after interest INR 47.25 crores, Depreciation INR 57.48 crs, Tax INR 22.24 crores and Exceptional Items INR 357.50 crores. Exceptional items substantially include Impairment loss provided on a prudent basis INR 350.00 crores.
Consolidated results for the year ended March 31, 2015
- Revenue for the year is INR 1,344.00 crores, as against INR 1307.89 crores. This increase in revenue is despite the sale of two of the Company’s subsidiaries, which were divested during the current year and whose full year revenue is included in the previous year.
- Profit before interest, depreciation, tax and exceptional items is INR 177.15 crores as compared to INR 221.79 crores (including one time forex gain INR 103.01 crores) in the previous year. The figure for the previous year includes full year figures of subsidiaries divested during the current year.
|INR Crores||INR Crores|
|Net Sales/Income from Operations||1,344.00||1,307.89|
|Employee benefit expenses||722.93||841.44|
|Cost of third prty products/ outsourced services & bought out items||279.34||187.18|
|Foreign Exchange Loss/ (Gain)||3.37||(103.01)|
|Profit Before Interest, Depreciation and Tax||177.15||221.79|
- Loss after tax for the year stands at INR 976.27 crores, after interest INR 211.40 crores, Depreciation INR 229.10 crs, Tax INR 39.53 crores and Exceptional Items INR 673.17 crores. Exceptional items substantially include Loss on sale of subsidiaries INR 287.64 crores and Impairment loss provided on a prudent basis INR 350.00 crores.
Mr. Charanjit Attra, Executive Director, having decided to pursue opportunities in the areas of advisory services relating to accounting and auditing on Ind AS (converged IFRS), has resigned from the Board with effect from May 28, 2015. The Board has accepted his resignation.
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About 3i Infotech
Incorporated in 1993, 3i Infotech (www.3i-infotech.com) is a public global Information Technology company committed to Empowering Business Transformation. A comprehensive set of IP based software solutions (20+), coupled with a wide range of IT services, uniquely positions the company to address the dynamic requirements of a variety of industry verticals, predominantly Banking, Insurance, Capital Markets, Asset & Wealth Management (BFSI). Furthermore it offers solutions to the government, manufacturing, retail, distribution, telecom and healthcare sectors. Among its repertoire of IPR based solutions the flagship products of the Company are Premia, MFund, Orion, Kastle ULS, Amlock and RhymeSight..
The Company has a very strong foothold and customer base in geographies like South Asia, Middle East and Africa, China, Asia Pacific, Kingdom of Saudi Arabia and North America.
The Company is also focused on value added services such as business intelligence & analytics services, infrastructure management services, testing & compliance, application development & maintenance, consulting and its BPO offerings.
The Company, headquartered in Mumbai, India has over 8500 employees in more than 20 offices across 12 countries and over 1000 customers in more than 50 countries across 5 continents.
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Company Name: 3i Infotech Ltd
Contact Person: Tina Dutta
Address:Tower # 5, 3rd to 6th Floors International Infotech Park, Vashi
City: Navi Mumbai