Financial Software Testing Specialist, Thinksoft Global Services Ltd. (BSE:533121) (NSE: THINKSOFT), announced its first quarter results ended on 30th June’ 2014. Thinksoft is a specialist in financial and banking software testing services, and is the only independent testing service provider listed in India. The results are available on the company’s website, http://www.thinksoftglobal.com
PERFORMANCE HIGHLIGHTS
Consolidated YoY Review
- Q1 – 15 Operating revenue was Rs 51.3 crore compared to Rs 43.0 crore during the corresponding quarter the previous year. This reflects strong demand for Thinksoft services from its client base.
- Total income was Rs 51.8 crore compared to Rs 43.4crore during the corresponding quarter the previous year - an increase of 19%.
- The Company reported EBITDA of Rs 10.1 crore compared to Rs 10.7 crore during the corresponding quarter of previous year, reflecting investments in billable staff to prepare for growth in future quarters.
- EBITDA Margin stood at 19.7% for Q1FY15 compared to 25.0% in Q1FY14 with overheads slightly down by 0.2% to 25.1 % of revenue.
- Net profit stood at Rs 6.3 crore during the quarter under review compared to Rs 10.2 crore during the corresponding quarter of the previous year, largely due to lower exchange rate gain to 0.5 crores as compared to 5.2 crores previous year.
- Basic EPS stood at Rs 6.1 compared to Rs. 10.1 for Q1 – 14.
Commenting on the results, Dr. Martin Müller, Managing Director & CEO, Thinksoft Global, said
“The growth during the quarter was driven by healthy demand in North America and Europe where we will continue to focus our sales efforts for the medium term. I am pleased to report that after two quarters with SQS and further investment in billable resources, the company is now well positioned for growth.” About Thinksoft Global Thinksoft Global is a specialist in financial software testing with over 14-million person hour track records for Global 500 financial and insurance organisations in USA, UK, Europe, India and Asia-Pacific. Through its domain focus, structured testing methodologies, offshore delivery, and test automation expertise, Thinksoft helps clients realise 'business ready software', compress timelines, and reduce software product life cycle costs. In the last 16 years, Thinksoft Global has established a successful track record of handling large independent functional testing assignments. Thinksoft has established a global presence/ footprint in New York, London, Frankfurt, Singapore, Bangalore and Chennai. Thinksoft Global is the Winner of the Deloitte Tech Fast 50 India and Tech Fast 500 AsiaPac – 2006, 2007 and 2008. Thinksoft is ISO 9001:2000 certified for 'Providing offshore testing and documentation services for the Banking, Financial Services, and Insurance verticals.
About SQS Software Quality Systems SQS is the world's leading specialist in software quality. This position stems from over 30 years of successful consultancy operations. SQS consultants provide solutions for all aspects of quality throughout the whole software product lifecycle driven by a standardised methodology, offshore automation processes and deep domain knowledge in various industries. Headquartered in Cologne, Germany, the company now employs approximately 3,800 staff (incl. Thinksoft). SQS (incl. Thinksoft) has offices in Germany, the UK, Australia, Egypt, Finland, France, India, Ireland, Malaysia, the Netherlands, Norway, Austria, Singapore, Sweden, Switzerland, South Africa, UAE and the US. In addition, SQS maintains a minority stake in a company in Portugal. In 2013, SQS generated revenues of 225.8 million Euros. SQS is the first German company to have a primary listing on the AIM (Alternative Investment Market) in London. In addition, SQS shares are also traded on the German Stock Exchange in Frankfurt am Main. With over 7,000 completed projects under its belt, SQS has a strong client base, including half of the DAX 30, nearly a third of the STOXX 50 and 20 per cent of the FTSE 100 companies. These include, among others, Allianz, Beazley, BP, Centrica, Commerzbank, Daimler, Deutsche Post, Generali, JP Morgan, Meteor, Reuters, UBS and Volkswagen as well as other companies from the six key industries of SQS.
For more information, see www.sqs.com.
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