BWI: AGC Networks’ FY 10 PAT up 123.1%

Press release from Business Wire India
Source: AGC Networks Ltd.
Thursday, November 18, 2010 02:49 PM IST (09:19 AM GMT)
Editors: General: Consumer interest; Business: Accounting & management consultancy services, Business services, Financial Analyst, Information technology; Technology
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AGC Networks' FY 10 PAT up 123.1%
- Q4 Consolidated Net Profit at Rs 8.51 Cr - Attributes strong annual results to a successful re-alignment of business strategy in line with changing market dynamics with the support of employees and customers

New Delhi, Delhi, India, Thursday, November 18, 2010 -- (Business Wire India) -- Culminating the year on a positive note, AGC Networks Ltd. (formerly Avaya GlobalConnect), India's leading enterprise communications solutions integrator, today reported Consolidated Profit after Tax (PAT) of Rs.34.60 Cr in FY 10, compared to PAT of Rs. 15.51 Cr in FY09. The Company recorded consolidated sales at Rs 540.42 Cr for the year ended September'10 and Rs. 129.99 Cr for the quarter. The figures reinforce the company's intent of creating profitable growth. Directors are pleased to recommend the payment of dividend at the rate of Rs. 4.5 per share (Previous Year Rs. 3.50 per share) on 1,42,33,232 Equity Shares of Rs. 10/- each for the year ended September 30, 2010, subject to the approval of the shareholders in the ensuing Annual General Meeting.

The year 2010 saw AGC Networks (AGC) unveiling its new identity and announcing its rechristening as AGC Networks Ltd. The re-branding exercise enabled improved positioning in the enterprise communication market. AGC Networks is now positioned as Enterprise Communications SI with abilities that offer diversity in technologies and comprehensive solution suite. Besides consolidating its market leadership in Unified Communication, Collaboration and Contact Centres in 2010, AGC is now focusing on Data Networking, Board Room Integration, IP Surveillance, Governance, Risk & Compliance as well as Information Storage & Security. These capabilities along with the parent's offering in the BPO/CLM domain, presents us lots of opportunities available in global and domestic market in Tech, IT and BPO space and become a significant player in the IT-ITeS sector , says S K Jha, Managing Director and CEO of AGC Networks.

According to Anil Nair, Jt. Managing Director, AGC Networks Ltd., "This has been a year of superior performance for AGC Networks amidst many challenges. The strong engagement of all our people and leveraging AGC Univ to build competencies has resulted in significant rise in customer satisfaction. With new practices and a wider solution span on offer to strengthen our presence across verticals and geographies, AGC aims to become even more formidable in the industry ."

This year, the parent company Avaya Inc sold its 59.13% stake in AGC Networks to the Essar Group for $44.5 million. Essar completed the acquisition of the company after acquiring another 20% of AGC Networks' outstanding shares through open offer. At present, the group holds 79.13% stake in AGC Networks Ltd.

In line with its' mission, AGC Networks differentiates itself by providing industry specific solutions to customers that enhance their business performance. AGC's business strategy revolves around the 'triangle of equity' i.e. value creation for customers, employees and stake-holders.


About AGC Networks

AGC Networks Ltd. is India's leading enterprise communication solution integrator delivering customized business solutions that help organizations accelerate revenue growth, increase market penetration, optimize operating costs and improve employee productivity, embedding communication in their business processes. With a vision of being a world class solution integrator of choice, AGC Networks Ltd. has always remained committed to providing clients with the best returns on their technology investments. It partners with global leaders like Avaya, Juniper, NICE, NEC, Polycom, Plantronics, Extreme Networks, HP and Sony.

For more information visit the AGC Networks Ltd. web site: http://www.agcnetworks.com/



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KEYWORDS
CONSUMER, CONSULTANCY SERVICES, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY

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