Bangalore, 17 July 2014: Sasken Communication Technologies Limited (BSE: 532663, NSE: SASKEN) today announced its consolidated results according to Indian GAAP for the quarter ended June 30, 2014.
Speaking on the results, Rajiv Mody, Chairman and MD, Sasken Communication Technologies said, "We continue to make investments to consolidate our business in the'Communications and Devices' space and have emerged as 'preferred partners' of some of our key customers". "Our investments in building our IT Services portfolio are well underway. Our business and portfolio teams are in place and we expect to see these
initiatives fructify in the coming 3 to 4 quarters" added Mr. Mody.
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Consolidated Revenues for Q1 FY 15 at Rs. 108.19 Crore
- Down 7.0 % sequentially over the previous quarter
- Down 6.3 % YoY from Q1 FY 14
- Consolidated EBIDTA for Q1 FY 15 at Rs. 11.81 Crore
- Up 0.6 % sequentially over the previous quarter
- Down 36 % YoY from Q1 FY 14
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Consolidated PAT for Q1 FY 15 at Rs. 8.36 Crore
- Down 7.8 % sequentially over the previous quarter
- Down 52.3 % YoY from Q1 FY 14
- PAT Margins for the quarter at 7.7 %
Key Business metrics for the Quarter: Q1 FY 15
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Software services revenues for Q1 FY 15 at Rs. 105.13 Crore
- Down 5.3 % sequentially over the previous quarter
- Down 4.0 % YoY from Q1 FY 14
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Products group revenues for Q1 FY 15 at Rs.2.41 Crore
- Down 49.1 % sequentially over the previous quarter
- Down 56.1 % YoY from Q1 FY 14
- Consolidated EBIDTA margins were at 10.9 %.
- Services EBIDTA margins were at 11.3 %
- Products EBIDTA margins were at -0.2 %
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Revenue contribution from
- the Top five customers stood at 40.8 % and
- from Top 10 customers at 56.1 %
- Consolidated EPS was at Rs. 3.93 for the quarter
- 4 new customers added during the quarter making the total of active customers to 124
A fact sheet providing the operating metrics for the company and a presentation for analysts can be downloaded from the investor section of the corporate website www.sasken.com
About Sasken:
Sasken is a global leader in providing embedded R&D services, comprehensive testing services, IT infrastructure services and application development & data services to device OEMs, network OEMs, semiconductor vendors, operators and retail & insurance enterprises across the world. Global Fortune 500 and Tier 1 companies in these segments are part of Sasken's customer profile.
Sasken's solutions are backed by CMMI-DEV-V1.3-ML3, ISO 9001:2008, ISO 27001:2005 and TL 9000 certifications. Our proprietary quality management systems strengthen our business offerings and ensure client satisfaction. Sasken's commitment toenvironment is highlighted by its ISO 14001:2004 certification.
For further information please visit www.sasken.com
Disclaimer on Forward Looking Statements:Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the Indian IT services industry, including with respect to tax incentives and export benefits, adverse changes in foreign laws, including those relating to outsourcing and immigration, increasing competition in and the conditions of the Indian and global IT services industry, the prices we are able to obtain for our services, wage levels in India for IT professionals, the loss of significant customers the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic and foreign laws, regulations and taxes and changes in competition in the information technology/ telecommunication industries. Additional risks that could affect our future operating results are more fully described in our Red herring filing. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
Company Contact:
Syed Shahid Mehdi
Sr. Manager, Corporate & Marketing Communications
E: pr@sasken.com
T: +91 9880575712
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