Saksoft H1FY20 Revenue at Rs. 178.39 Crs, a Growth of 3.9% Y-o-Y

• Saksoft H1FY20 Revenue at Rs. 178.39 Crs, a growth of 3.9% Y-o-Y
• H1FY20 EBITDA Margin at 18.1%, a growth of 331bps Y-o-Y
• H1FY20 PAT (Before minority) at Rs. 19.27 Crs, a growth of 11.3% Y-o-Y
• Interim Dividend of Rs. 2/ per share (20%) on equity share of Rs. 10/ each

CHENNAI, India, Nov. 14, 2019 /PRNewswire/ --  Saksoft Limited (BSE: 590051) (NSE: SAKSOFT), announced its unaudited financial results for the Quarter and Six months ended 30th September 2019.

Commenting on the results and performance Aditya Krishna, Chairman Managing Director of Saksoft Ltd, said, "The half year 2019-20 closed with an increased EBITDA of Rs. 32.33 crores, an increase of 27.1% over the previous half year. The sluggish demand in the UK market has affected the current quarter's revenue and we believe this is a short-term phenomenon. Whilst there has been a short-term revenue growth challenge, our ability to stay focussed on increasing offshore revenues and delivering value to our customers has resulted in an overall increase in the profitability of the company."

Result Highlights Q2FY20 on Y-o-Y basis:

Revenue of Rs. 87.19 Crs

• The Company recorded Revenue of Rs. 87.19 Crs during Q2FY20, as against Rs. 89.15 Crs in Q2FY19. The muted performance was on the back of sluggish demand in UK market.

EBITDA growth of 16.3%

• EBITDA for the quarter stood at Rs. 16.16 Crs higher by 16.3% as compared to Q2FY19 of Rs. 13.90 Crs
• EBIDTA margins expanded by 294 bps to 18.5% as compared to Q2FY19 (this includes 141 bps on account of Ind AS 116) and this was on the back of increase in offshore revenues and better quality of revenue due to the dedicated team.

• The Company recorded a PAT margin of 11.2% higher by 45 bps as compared to Q2FY19. PAT for the quarter stood at Rs. 9.76 Crs with a growth of 1.9% Y-o-Y

Result Highlights H1FY20 on Y-o-Y basis:

Revenue Growth of 3.9%

• The Company recorded Revenue of Rs 178.39 Crs during H1FY20, as against Rs.171.70 Crs in H1FY19 a growth of 3.9%

EBITDA growth of 27.1% 

• EBITDA for the H1FY20 stood at Rs. 32.33 Crs as against Rs. 25.44 Crs in H1FY19 an increase of 27.1%. EBIDTA margins stood at 18.1% as compared to 14.8% for H1FY19 an increase of 331bps.
• The EBITDA for H1FY20 is higher by Rs. 2.48 Crs on account of adoption of Ind AS 116 resulting in an impact of 1.39%

Profitability growth of 11.3%*

• PAT for the H1FY20 stood at Rs. 19.27 Crs as against Rs. 17.32 Crs in H1FY19 an increase of 11.3%. PAT margin grew by 71 bps as compared to H1FY19. PAT margins for the H1FY20 stood at 10.8%.

Additional Highlights:

• Declared Interim Dividend of Rs. 2/- per share (20%) on equity share of Rs. 10/- each for the financial year 2019-20
• Acquisition of last tranche of 20% of the equity share capital in DreamOrbit Softech Private Limited, a subsidiary of the Company. With this, DreamOrbit has become a wholly-owned subsidiary of Saksoft Limited.

About Saksoft Limited:

Saksoft Limited is a leading player in providing digital transformation solutions to help businesses stay relevant in a highly connected, rapidly evolving world. Saksoft is a niche technology specialist that provides a comprehensive suite of business transformation, information management, application development and testing services. Saksoft helps their clients level the playing field by helping them transform their business spaces.

Saksoft is headquartered in Chennai (India), and has 14 offices across the USA, Europe and Asia employing over 1100+ people. For more information, please visit www.saksoft.com.

Safe Harbor Statement:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

For further information, please contact:
Mr. Niraj Kumar Ganeriwal
Chief Financial Officer
Saksoft Limited
[email protected] 
www.saksoft.com

Media Contact:
Karthik Subramanian
[email protected]
+91-9840905522
Marketing Head
Saksoft Limited

Logo - https://mma.prnewswire.com/media/699009/Saksoft_Logo.jpg

[ Back To TMCnet.com's Homepage ]