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AGC Networks Announces Results For Quarter Ended Dec 2011
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Thursday, February 02, 2012:
AGC Networks Limited, India's leading Solutions Integrator in Unified Communication, Network Infrastructure, Information Security and Business Application and Consulting, and a subsidiary of Aegis Limited, an Essar enterprise, announced its financial results for the third quarter ended December 31, 2011.
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Key Financial Highlights
-- AGC Networks reports strong financial performance.
-- Q3 closed with revenues of Rs 241 Crs and an EBITDA of Rs 29 Crs at a consolidated level, up 83% and 161% respectively on a y-o-y basis.
-- Net profit up 218% to Rs 18.2 crore against Rs 5.7 crore in the corresponding quarter last year.
-- Operating profit, or EBITDA, margin stable at 12%. PAT margin expands by 400 basis points to 8% on a y-o-y basis.
-- Significant growth in revenues of 75% over the 9 month period. Revenue of Rs 694 crs achieved, as against a revenue of Rs 396 crs for the same 9 month period last year.
-- EBITDA growth of 66% over the 9 month period in the current year against the same period last year. Last year the EBITDA stood at Rs 39.9 Crs as against Rs 66.5 crs in this year for the same period.
Results
Business Outlook:
AGC Networks differentiates itself by providing vertical -specific solutions through an array of its key alliance partner led offerings in the space of Voice, Video, Data and Information Security. These practices are offered in verticals like BFSI, Telecom, IT/ ITes, Manufacturing, Hospitality and Health care and in the Government and Public sector. These customized solutions can be experienced at the AGC
state-of-the-art 'Customer Experience Studio' where real-life business environments are simulated for clients.
Speaking on the results, Mr. S K Jha, Managing Director and CEO of AGC Networks Limited said: "The positive outlook for Q3 is an apt reflection of our 10 cube growth strategy - that of Multiproduct, Multipartner and MultiGeography. We have increased our OEM partnership portfolio significantly to address the complete gamut of our solutions portfolio. This is in line with our strategy to be an end to end solutions integrator from a pure play Business Communications company.
Mr. CM Sharma, Global Chief Financial Officer of Aegis Limited said, "We have grown our market coverage from being just India centric to include MEA and ANZ, ASEAN and the revenue contributions are expected to kick in from the next financial year. We intend to launch our North American operations in the first quarter of the next financial year".
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