BWI: Infinite Continues Strong Growth. Q3 Revenue Grows at 35%. Q3 FY13 Operating Margin at 16.4%

Press release from Business Wire India
Source: Infinite Computer Solutions (India) Limited
Monday, February 11, 2013 10:50 AM IST (05:20 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Banking & financial services, Business services, Financial Analyst, Information technology, Major diversified industrial groups, Stock exchanges; Technology
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Infinite Continues Strong Growth. Q3 Revenue Grows at 35%. Q3 FY13 Operating Margin at 16.4%
In INR terms, Q3 FY13 Revenue grows 35% Y-o-Y, 4.5% Q-o-Q. Operating Margin grows 10.6%Y-o-Y, 3% Q-o-Q. IP Led Revenue Share at 17% of Revenue.

Gurgaon, Haryana, India, Monday, February 11, 2013 -- (Business Wire India) -- Infinite Computer Solutions (NSE Symbol: INFINITE / BSE Scrip Code: 533154), a global Information Technology service provider with expertise in Application Management, Infrastructure Management, Product Engineering Services, Next-Gen Messaging Platforms & Enterprise Mobility Solutions, announced its results for the third quarter for fiscal 2012-13, as approved by its Board of Directors.

Consolidated INR results for the Quarter Ended December 31, 2012:

-- Revenue - INR 363Crore; YoY growth of 34.9%, QoQ growth of 4.5%

-- EBITDA - INR 60Crore; YoY EBITDA increased by 10.6%,QoQ growth of 3%

-- EBITDA margin at 16.4% | YTD at 16.6%

-- PAT - INR 34.31Crore; YoY decline of 12.7%.QoQgrowth of 9.8%

-- EPS for the quarter - INR 8.06

Consolidated USD results for the Quarter Ended December 31, 2012:

-- Revenue - USD67.12 Million*; YoY growth of 27.15%. QoQ growth of 6.6%

-- EBITDA - USD 11.02 Million*; YoY EBITDA increased by 4.3%. QoQ growth of 5.05%

-- PAT - USD6.34 Million*; YoY decline at 17.7%. QoQ growth of 12%

*Average Forex Rate: INR 54.14 = 1 USD

"We are happy to announce another quarter of strong growth for Infinite; in line with our vision and objectives. As we continue our focus on new business Engagement models and Non-Conventional Business as part of our 2.0 strategy, we continue to see the benefits of our cognition, commitment and delivery excellence based on Intellect, Innovation and of course Integrity" said, Upinder Zutshi, Managing Director and CEO.

Business Updates:

-- Launched Enterprise Messaging Product (EMS) in US and India.

- Signed first client for EMS in India - Successfully implemented a Pilot project and the system is now live.

-- Signed the first major client for ITaaS - the agreement is with a major Global SI.

-- Signed a major product engineering deal with an industrial control and automation group in the US for turnkey product development.

- This is Infinite's first entry into complete electronic product development (PDLC) in the industrial control sector. With this deal Infinite has expanded its PES offering from Telecom based to industrial control and automation.

-- Expanded our offering with our top client - Product development and ITaaS offerings.

-- Signed 10 new clients this quarter including a large networking and communication equipment manufacturer.

Employees:

-- Global Employee Headcount at the end of the Second Quarter stood at 4966 Strong; a net increase of 311 employees over the previous quarter.

About Infinite

Infinite Computer Solutions (NSE Symbol: INFINITE / BSE Scrip Code: 533154) is a global Information Technology service provider with expertise in provision of Application Management, Infrastructure Management, Product Engineering Services, Next-Gen Messaging Platforms & Enterprise Mobility Solutions.

With a global team of around 5000, we partner with Fortune 500 companies from Telecom, Healthcare, Media and Content, Energy and Utilities and Financial Services verticals helping them achieve objectives through flexible engagement models including risk-reward, revenue-share engagements, global delivery from eight delivery centers around the world, technology & domain expertise and process excellence. We leverage our expertise as well as large project execution experience for the benefit of our clients in areas such as Enterprise Mobility, Next-Generation Messaging Platforms, Big Data / Enterprise Analytics, Cloud Enablement, SoA, Optics, Switching & Routing and platform based Tech Support Services.

Infinite has been recognized by NASSCOM amongst the Top 20 IT Players in India, by Forbes as Asia's 200 Best-Under-a-Billion companies and appeared in the Top 5 Employers of Choice in the DQ-IDC survey. Our peers and various industry bodies have recognized us for our Mobility Platform, which includes being runners-up at Mobile Merits Awards - 2012, finalist in the CTIA Emerging Technology Awards - 2012 and a finalist in Hot Companies& Technology Award - 2012.

For more information please visit www.infinite.com.

Disclaimer

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. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.



CONTACT DETAILS
Pritika Koul, Infinite, +91 (80) 41930000, Pritika.koul@infinite.com
Anuj Sonpal, Investor Relations, Valorem Advisors, +91 (22) 22026090 / 6190, Anuj@valoremadvisors.com

KEYWORDS
CONSUMER, ECONOMY, PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, IT, GROUPS, STOCK EXCHANGES, TECHNOLOGY

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