BWI: AGC Networks Announces Results for the Quarter ended December 31st, 2011

Press release from Business Wire India
Source: AGC Networks Ltd.
Thursday, February 02, 2012 11:00 AM IST (05:30 AM GMT)
Editors: General: Consumer interest; Business: Business services, Energy companies, Financial Analyst, Information technology, Stock exchanges, Telecommunications; Technology
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AGC Networks Announces Results for the Quarter ended December 31st, 2011
83% year-on-year growth in revenues; PAT more than triples

Mumbai, Maharashtra, India, Thursday, February 02, 2012 -- (Business Wire India) -- AGC Networks Limited, India's leading Solutions Integrator in Unified Communication, Network Infrastructure, Information Security and Business Application and Consulting, and a subsidiary of Aegis Limited, an Essar enterprise, announced its financial results for the third quarter ended December 31, 2011.

Key Financial Highlights

-- AGC Networks reports strong financial performance.

-- Q3 closed with revenues of Rs 241 Crs and an EBITDA of Rs 29 Crs at a consolidated level, up 83% and 161% respectively on a y-o-y basis.

-- Net profit up 218% to Rs 18.2 crore against Rs 5.7 crore in the corresponding quarter last year.

-- Operating profit, or EBITDA, margin stable at 12%. PAT margin expands by 400 basis points to 8% on a y-o-y basis.

-- Significant growth in revenues of 75% over the 9 month period. Revenue of Rs 694 crs achieved, as against a revenue of Rs 396 crs for the same 9 month period last year.

-- EBITDA growth of 66% over the 9 month period in the current year against the same period last year. Last year the EBITDA stood at Rs 39.9 Crs as against Rs 66.5 crs in this year for the same period.

Results

Business Outlook:

AGC Networks differentiates itself by providing vertical -specific solutions through an array of its key alliance partner led offerings in the space of Voice, Video, Data and Information Security. These practices are offered in verticals like BFSI, Telecom, IT/ ITes, Manufacturing, Hospitality and Health care and in the Government and Public sector. These customized solutions can be experienced at the AGC
state-of-the-art 'Customer Experience Studio' where real-life business environments are simulated for clients.

Speaking on the results, Mr. S K Jha, Managing Director and CEO of AGC Networks Limited said: "The positive outlook for Q3 is an apt reflection of our 10 cube growth strategy - that of Multiproduct, Multipartner and MultiGeography. We have increased our OEM partnership portfolio significantly to address the complete gamut of our solutions portfolio. This is in line with our strategy to be an end to end solutions integrator from a pure play Business Communications company.

Mr. CM Sharma, Global Chief Financial Officer of Aegis Limited said, "We have grown our market coverage from being just India centric to include MEA and ANZ, ASEAN and the revenue contributions are expected to kick in from the next financial year. We intend to launch our North American operations in the first quarter of the next financial year".

About AGC Networks

AGC Networks Ltd. is India's Leading Solutions Integrator in Unified communications, AV solutions, Collaboration, Network infrastructure, Information security and Consulting & PSO. AGC Networks has been delivering customized business solutions that help organizations accelerate revenue growth, increase market penetration, optimize operating costs and improve employee productivity, by 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 Systems, Aspect, Verint, HP, Polycom, Cisco, NEC, Sony, Plantronics, EMC, Dialogic, NetApp, Checkpoint and Jabra.

In line with its mission, AGC Networks differentiates itself by providing industry specific solutions to enhance the business performance of its customers. Focus verticals include BFSI, IT & ITes, Manufacturing, Hospitality, Healthcare and Government.
AGC Networks is a subsidiary of Aegis Limited, an Essar Enterprise.

For more information, please visit www.agcnetworks.com.

About Aegis :

Aegis is a world-leading outsourcing services partner for more than 150 clients with over two decades of leadership in customer lifecycle management. The company has more than 55,000 employees across 50 locations, with a presence in 12 countries, serving verticals such as BFSI, Telecom, Healthcare, Travel and Hospitality, Consumer Goods, Retail, and Technology. The company specializes in tailor-made solutions that cover the entire spectrum of customer and business experiences - across business processing, technology, shared services, analytics and consulting - and offers customized engagement models to further facilitate the ease of doing business. Aegis is wholly owned by the Essar group - a US$17 billion conglomerate. For more information, visit www.aegisglobal.com

About Essar Group:

The Essar Group is a multinational conglomerate and a leading player in the sectors of Steel, Oil & Gas, Power, BPO & Telecom Services, Shipping, Ports, and Projects. With operations in more than 25 countries across five continents, the Group employs 75,000 people, and has revenues of USD 17 billion. For additional information, visit www.essar.com

Media contacts:

Manish Kedia, Sr.VP Corporate Affairs, Essar Group,+91 98197 30092, manish.kedia@essar.com

Rabin Ghosh, DGM, Corporate Communications, Essar Group, + 91 99301 36268, rabin.ghosh@essar.com

Neelam Kapoor, Vice President - Marketing, AGC Networks, +91 9819730611, neelam.kapoor@essar.com

Shaily Vaswani, Vice President, Corporate Communications, Aegis Limited, +91 9930132305, shaily.vaswani@aegisglobal.com

A.S. Bali, Head of Investor Relations-Asia, Essar Investments Limited, +91 99301 34801, as.bali@essar.com

20:20 MSL
Pranali Arora/ Zainab Boxwala
+91 97699 05979/ +91 9819371046
Pranali.arora@2020msl.com/ zainab.boxwala@2020msl.com

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Results(1).pdf



KEYWORDS
CONSUMER, BUSINESS SERVICES, ENERGY, Financial Analyst, IT, STOCK EXCHANGES, TELECOMMUNICATIONS, TECHNOLOGY

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