Press Release
Aftek sales up 41%; profits up by 29% in FY'04-05
Mumbai, August 04, 2005:
Aftek Limited, a prominent enterprise wide business management solutions provider, has registered a healthy rise of 57% in net sales for the fourth quarter ended June'05 at Rs 57.58 crore as compared to net sales of 36.7 crores in the fourth quarter of June'04. The total income of the Company scaled to Rs. 58.19 crores in the fourth quarter of 2005 as compared to Rs. 37.51 crores in the quarter that ended in June'04 registering a rise of 55%. The Company posted a net profit of Rs 13.03 crore for the period resulting in earnings per share of Rs 1.74 (Basic). Net profit was however flat compared to the prior period net profit mainly due to revaluation of foreign currency assets and FCCB related expenditure.
As per the un audited financial results for the 12 months ended June 30th, 2005, Aftek has posted a rise of 41% in net sales from Rs 138.93 crore in the audited results of FY'04 to Rs 195.26 crore at the end of FY'05. The total income for the year has grown to Rs.197.81 crore in FY'05 compared to Rs.140.49 crore in the corresponding period of last financial year. The net profit has gone up by 29 per cent from Rs 47.31 crore in FY'04 to Rs 61.16 crore in the FY'05. The annual EPS works out to Rs 8.15 (Basic) as compared to Rs. 6.31 (Basic).
Says Mr. Ranjit Dhuru, CEO and Chairman, Aftek, 'The Company's performance is in line with the 40 per cent guidance given at the beginning of last year. We have a catered to client with an excellent geography spread of 56 % in USA, 33% from Europe and the balance from Asia and domestic business which has a high growth potentials in the years to come.'
The Company has recently allotted 3,450 Foreign Currency Convertible Bonds (FCCBs) of $10,000 each aggregating to $34.5 millions carrying a coupon rate of 1 per cent. The FCCBs are due for redemption in 2010. The FCCBs are convertible into GDRs or equity shares at an initial conversion price of Rs 94 and are listed on Luxembourg Stock Exchange.
Mumbai, August 04, 2005:
Aftek Limited, a prominent enterprise wide business management solutions provider, has registered a healthy rise of 57% in net sales for the fourth quarter ended June'05 at Rs 57.58 crore as compared to net sales of 36.7 crores in the fourth quarter of June'04. The total income of the Company scaled to Rs. 58.19 crores in the fourth quarter of 2005 as compared to Rs. 37.51 crores in the quarter that ended in June'04 registering a rise of 55%. The Company posted a net profit of Rs 13.03 crore for the period resulting in earnings per share of Rs 1.74 (Basic). Net profit was however flat compared to the prior period net profit mainly due to revaluation of foreign currency assets and FCCB related expenditure.
As per the un audited financial results for the 12 months ended June 30th, 2005, Aftek has posted a rise of 41% in net sales from Rs 138.93 crore in the audited results of FY'04 to Rs 195.26 crore at the end of FY'05. The total income for the year has grown to Rs.197.81 crore in FY'05 compared to Rs.140.49 crore in the corresponding period of last financial year. The net profit has gone up by 29 per cent from Rs 47.31 crore in FY'04 to Rs 61.16 crore in the FY'05. The annual EPS works out to Rs 8.15 (Basic) as compared to Rs. 6.31 (Basic).
Says Mr. Ranjit Dhuru, CEO and Chairman, Aftek, 'The Company's performance is in line with the 40 per cent guidance given at the beginning of last year. We have a catered to client with an excellent geography spread of 56 % in USA, 33% from Europe and the balance from Asia and domestic business which has a high growth potentials in the years to come.'
The Company has recently allotted 3,450 Foreign Currency Convertible Bonds (FCCBs) of $10,000 each aggregating to $34.5 millions carrying a coupon rate of 1 per cent. The FCCBs are due for redemption in 2010. The FCCBs are convertible into GDRs or equity shares at an initial conversion price of Rs 94 and are listed on Luxembourg Stock Exchange.