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Glodyne posts Q4 net profit at Rs 48.64 crore

Glodyne posts Q4 net profit at Rs 48.64 crore
PTI
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First Published: Thu, May 12 2011. 07 50 PM IST
Updated: Thu, May 12 2011. 07 50 PM IST
Mumbai: Technology infrastructure management services provider Glodyne on Thursday reported a net profit of Rs 48.64 crore for the fourth quarter ended 31 March , 2011, compared to Rs 29.01 crore in the same quarter in 2010.
The company added 13 new clients during the period, it said in a filing to the Bombay Stock Exchange (BSE).
The company’s sales in the fourth quarter stood at Rs 560.95 crore, an over 170 % jump from Rs 207.53 crore in the same quarter last fiscal.
For the year ended 31 March, 2011 it posted total net profit of Rs 177.29 crore, compared to Rs 100.35 crore in the previous fiscal.
The firm’s sales in 2010-11 increased 133% at Rs 1,750.96 crore, as against Rs 749.26 crore in FY’10.
“We are determined to expand on the strong niche that the company has built in India and North America geographies,” Glodyne chairman and managing director Annand Sarnaaik said.
“Over the last few quarters our team has built a strong execution pipeline in the financial inclusion, e-governance and education sectors in India, and our focus is to ensure operational efficiencies in these projects,” he said.
“We are focused on capturing market share to ensure leadership position in these sectors in the country. Our North America business is undergoing a churn and we shall be able to transform our services mix in the next few quarters,” he said.
The company has projected its revenue for FY12 in the range of Rs 2,173 crore to Rs 2,193 crore, with the guidance factors in dollar rate of Rs 44.50.
The firm’s scrip ended at Rs 375.50, down 2.97% from its previous close on the BSE.
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First Published: Thu, May 12 2011. 07 50 PM IST