Accel Frontline Ltd. announces result for the quarter ending September 30th 2007
Net Revenue and Profit after Tax for the quarter increased by 29% and 32% year on year to Rs. 60.40 crores and Rs. 4.16 crores respectively.
Chennai, October 31st, 2007
Accel Frontline Ltd. announced its unaudited quarterly results for the quarter ending 30th September 2007, which was taken on record by the Board of Directors on 31st October 2007.
Highlights for the Quarter are:
figures in Rupees crore
Particulars
Q2 FY 07-08
Q2 FY 06-07
H1 FY 07-08
H1 FY 06-0
Net Revenue
60.40
46.69
115.81
89.66
EBIDTA
7.50
5.78
14.41
10.65
PBT
5.11
3.97
9.62
6.76
PAT
4.16
3.15
7.20
5.31
For the quarter ended September 30, 2007, the company has posted a consolidated net turnover of Rs.60.40 Crores against Rs.46.69 Crores during the corresponding quarter of the previous year, registering a growth of 29%. The EBIDTA went up by 30% to Rs.7.50 Crores against Rs.5.78 Crores during the corresponding period last year. Profit After Tax improved by 32% to Rs.4.16 Crores against Rs.3.15 Crores for the same period last year.
For the half-year ended September 30, 2007, the company has posted a consolidated net turnover of Rs.115.81 Crores against Rs.89.66 Crores during the corresponding period of the previous year, registering a growth of 29.2%. The EBIDTA went up by 36% to Rs.14.41 Crores against Rs.10.65 Crores during the corresponding period last year. Profit After Tax improved by 35.71% to Rs.7.20 Crores against Rs.5.31 Crores for the same period last year.
Announcing the quarterly results, Mr. N. R. Panicker, the Chairman and CEO of the Company said, “We are pleased to report a good second quarter performance in line with the expectation. We are well on our way to achieve our annual financial objectives for the FY 08. We have attained predictability in our quarterly performance due to our continued focus on annuity based IT Services business and a healthy order book position.
During this quarter, we were able to grow our ERP consulting practice by winning new projects and continued to gain customers for our Software Products in the Banking and Education verticals. We also had significant wins in the IT Infrastructure Management and Warranty Management Services divisions. The company added two hundred and fourteen new employees in the second quarter taking the total employees number up to 2829 professionals.”
About Accel Frontline Ltd.:
Accel Frontline Ltd. is a joint venture between the Chennai based Accel Ltd. and Frontline Technologies Corporation, Singapore. The company is engaged in providing comprehensive IT Services for enterprises that include, IT Infrastructure Management, Software Services, Infrastructure Solutions and IT Outsourcing. It has a track record of 16 years of growth and it employs 2829 professionals operating from 100 locations. The company came out with its IPO in October 2006 and is listed on the National Stock Exchange of India and the Bombay Stock Exchange. The company had a turnover of Rs.190 Crores for the financial year ending March 2007 with a Profit After Tax of Rs.12 Crores.
Investors are cautioned that the above document may contain forward-looking statements that involve risks and uncertainties. The company undertakes no obligation, to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Actual results, performances, or achievements could differ from those expressed or implied in such forward-looking statements.
AFL Press Release First Quarter Financial Results 2007-08
Chennai, July 26th, 2007
Q1 revenue grew by 29% year-on-year to Rs.55.41 crores
Profit after tax increased by 40% to Rs.3.04 crores
Highlights for the Quarter are:
Particulars
Q1 FY 2007
Q1 FY 2006
Net Revenue
55.41
42.97
EBIDTA
6.92
4.88
PBT
4.52
2.79
PAT
3.04
2.17
EPS (on Rs 10/- share)
1.35
1.25
For the quarter ended June 30, 2007, the company has posted a consolidated net turnover of Rs.55.41Crores against Rs.42.97 Crores during the corresponding quarter of the previous year, registering a growth of 29%. The EBIDTA went up by 42% to Rs.6.92 Crores against Rs.4.88 Crores during the corresponding period last year. The Profit Before Tax was up 62% at Rs. 4.52 Crores against Rs. 2.79 Crores and Profit After Tax improved by 41% to Rs.3.04 Crores against Rs.2.17 Crores for the same period last year.
Announcing the quarterly results, Mr. N. R. Panicker, the Chairman and CEO of the Company said, “We are pleased to report a good quarterly performance on a normally slow first quarter for the domestic IT industry. With our continued focus on IT Infrastructure Management and Enterprise Software Services we are confident that the growth momentum will continue in the coming quarters and will ensure steady growth in turnover and profitability. ”
During the quarter the company received several prestigious annuity contracts for IT services. The company has launched new initiatives to move into IT Outsourcing and to expand the Managed Services portfolio with Remote Managed Services.
The company added two hundred and forty new employees in the first quarter taking the total employees number up to 2615 professionals.
About Accel Frontline Ltd.:
Accel Frontline Ltd. is a joint venture between the Chennai based Accel Ltd. and Frontline Technologies Corporation, Singapore. The company is engaged in providing comprehensive IT Services for enterprises that include, IT Infrastructure Management, Software Services, Infrastructure Solutions and IT Outsourcing. It has a track record of 16 years of growth and it employs 2615 professionals operating from 100 locations. The company came out with its IPO in October 2006 and is listed on the National Stock Exchange of India and the Bombay Stock Exchange. The company had a consolidated turnover of Rs.190 Crores for the financial year ending March 2007 with a Profit After Tax of Rs.12 Crores.
Investors are cautioned that the above document may contain forward-looking statements that involve risks and uncertainties. The company undertakes no obligation, to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Actual results, performances, or achievements could differ from those expressed or implied in such forward-looking statements.
Seagate Technology partners with Accel Frontline Limited
Chennai, March, 2007
Seagate Technology announced a strategic partnership with Accel Frontline Ltd. to provide professional data recovery services through its extensive network of 36 service centers across 34 cities to serve a growing need in the Indian market.
The announcement is part of Seagate’s ongoing expansion of its global data recovery services operations and represents the company’s commitment to provide optimum service to customers around the world.
“Corporations and consumers are increasingly placing a premium on the value of digital content they’ve created for work and play, and they cannot afford the risk of losing digital data that has become such an integral part of them,” said Seagate’s Country Manager for India and SAARC countries, Rajesh Khurana. “Seagate understands this and our data recovery services provide a last line of defense against data loss with a best-planned disaster recovery implementation for large corporations.”
Seagate’s groundbreaking software solution & in-lab recovery services employing a patented SignalTrace technology will enable Accel Frontline’s service engineers to recover data from media – regardless of brands or formats – that have undergone severe physical damage, liquid damage, fire damage, software corruption, system sabotage and accidental file deletion.
Seagate’s SignalTrace technology is drive-independent and allows for data recovery from media that cannot be addressed by traditional in-lab recovery methods.
Under the agreement, Accel Frontline will honor and maintain the agreed service level, data quality commitment and customer confidentiality as stated by Seagate; and will adhere to the company’s ISO 9001:2000 guidelines to ensure procedural and quality excellence for all data recovery cases.
“The data recovery service that Accel Frontline offers in association with Seagate is yet another step in our effort to become a comprehensive provider of availability services in India,” said CEO of Accel Frontline, N.R. Panicker. “Our wide network of support centers will ensure that this service is available to customers all over India.”
Customer's can contact the data recovery service hotline by calling - +91-44-42015189, during business hours.
Alternatively, Corporate customers and consumers who require data recovery services can visit any one of Accel Frontline’s 36 service centers situated across India.
Accel Frontline Ltd has announced that the company is acquiring the Banking Solutions Division of Telesis Global Solutions Ltd, a Chennai-based software company specializing in software products for banking applications and, implementation and migration services for core banking software in India, Middle East and African regions. This acquisition is in line with the company’s focus on increasing the software services revenue in the coming years. This division will be merged with the banking solutions division of Accel Frontline, which currently has an MIS product framework for the banking segment. The company signed the MOU on January 23, 2007.
