Press Release
Aftek delivers yet another impressive quarter
Posts net sales growth of 40.91 % and net profit growth of 34.72 %.
Nine-month net income stands at 139.62 crore.
Mumbai, April 29, 2005:
Aftek Limited, a prominent enterprise wide business management solutions provider, has delivered excellent performance for the third quarter and nine months, ended March 31st, 2005. The Company has registered a healthy rise in both revenue and net profit during the period.
Backed by strong growth in its services business, for the quarter ended March 31, 2005, the company has posted net sales of Rs 50.76 crore, compared to Rs 36.02 crore in the 3rd quarter of last financial year, a growth of 40.91 %. Operating Profit during the quarter has risen by 27.18 % to Rs 22.46 crore, from Rs 17.66 crore. Net Profit has risen by 34.72 % to Rs 17.61 crore from Rs 13.07 crore during the same period. The Earnings Per Share stands at Rs 2.35 from Rs 1.74, a growth of 35 % (Basic & diluted face value of Rs. 2 per share).
For the nine months ended March 31st, 2005, Aftek has posted a rise of 34.65 % in Net Sales from Rs 102.25 crore to Rs 137.68 crore. The total income for the nine-month period has grown to Rs. 139.62 crore compared to Rs. 103.17 crore in the corresponding period of last financial year. The nine months EPS has grown to Rs 6.42 from Rs. 5.20, a jump of 23.46 %.
Says Mr. Ranjit Dhuru, CEO and Chairman, Aftek, 'Our performance is in line with our expectations. Right from the integration plans of Arexera to the developments in Seekport it has been an eventful year so far. We stick to our 40 per cent revenue growth guidance this year.' Aftek now plans to expand Seekport into Spain, Scandinavian countries, he added.
Towards strengthening of its infrastructure to support its growth initiatives, Aftek has taken on lease office premises of about 17,000 sq. ft. at Pune with a capacity of housing 200 software professionals as a stop-gap arrangement until its proposed Development Center at newly acquired space at IT hub, Hinjawadi gets ready.
Posts net sales growth of 40.91 % and net profit growth of 34.72 %.
Nine-month net income stands at 139.62 crore.
Mumbai, April 29, 2005:
Aftek Limited, a prominent enterprise wide business management solutions provider, has delivered excellent performance for the third quarter and nine months, ended March 31st, 2005. The Company has registered a healthy rise in both revenue and net profit during the period.
Backed by strong growth in its services business, for the quarter ended March 31, 2005, the company has posted net sales of Rs 50.76 crore, compared to Rs 36.02 crore in the 3rd quarter of last financial year, a growth of 40.91 %. Operating Profit during the quarter has risen by 27.18 % to Rs 22.46 crore, from Rs 17.66 crore. Net Profit has risen by 34.72 % to Rs 17.61 crore from Rs 13.07 crore during the same period. The Earnings Per Share stands at Rs 2.35 from Rs 1.74, a growth of 35 % (Basic & diluted face value of Rs. 2 per share).
For the nine months ended March 31st, 2005, Aftek has posted a rise of 34.65 % in Net Sales from Rs 102.25 crore to Rs 137.68 crore. The total income for the nine-month period has grown to Rs. 139.62 crore compared to Rs. 103.17 crore in the corresponding period of last financial year. The nine months EPS has grown to Rs 6.42 from Rs. 5.20, a jump of 23.46 %.
Says Mr. Ranjit Dhuru, CEO and Chairman, Aftek, 'Our performance is in line with our expectations. Right from the integration plans of Arexera to the developments in Seekport it has been an eventful year so far. We stick to our 40 per cent revenue growth guidance this year.' Aftek now plans to expand Seekport into Spain, Scandinavian countries, he added.
Towards strengthening of its infrastructure to support its growth initiatives, Aftek has taken on lease office premises of about 17,000 sq. ft. at Pune with a capacity of housing 200 software professionals as a stop-gap arrangement until its proposed Development Center at newly acquired space at IT hub, Hinjawadi gets ready.