Prism Informatics Limited – Third Quarter Results Financial Year 2010-11

 

Prism Informatics Limited – Third Quarter Results Financial Year 2010-11

Consolidated Q3 Revenue up 43% QoQ and 2347% YoY

Consolidated Q3 Profit After Tax up 190% QoQ and 1131% YoY

Declared an interim dividend of 12.5%

Acquired 51% Majority Stake in Saudi Arabia IT company – Information Management Technologies (IMT) in Nov’10

Mumbai: Prism Informatics Limited, a Software Development and IT Business Consulting Services Provider (referred to as “Prism” or the “Company”, BSE: 505530) announces its Unaudited Third Quarter and Nine Months results for Financial Year 2010-11.

Speaking on the occasion, Mr. Alok Pathak, Managing Director, Prism Informatics Limited said:

“Prism continues to perform well in all established segments and geographies in Q3 FY 2010-11. In this quarter, Prism expanded its footprint in the Middle East Market with the 51% acquisition of Information Management Technologies (IMT), a subsidiary of the Al Suwaidi Group, in the Kingdom of Saudi Arabia. Prism is exhibiting very strong organic growth. The company continues to pursue its inorganic growth strategy and is evaluating further acquisition of companies in Europe and Middle East.”

Financial Highlights (Consolidated)

Financials						(INR Lakhs)
(Year Ending March)	Q3FY11	Q2FY11	QoQ (%)	Q3FY10	YoY (%)	FY10
Revenue	2141.70	1502.21	43	176.21	2347	829.97
EBITDA	107.78	58.63	84	9.56	1140	75.45
Net Profit	144.71	49.83	190	9.36	1131	51.66
Diluted EPS (INR)	10.05*	3.85	161	1.49	250	3.79

           

The board declared an interim dividend of 12.5% for third quarter financial year 2010-11

*On equity face value of Rs. 10 prior to stock split. On Equity face value Rs.1, the EPS is Rs.1.005

 

Business Highlights

Contracts / New Business / Growth: This quarter also witnessed new businesses/contracts/growth in various geographies:

Germany:

• SAP retail system maintenance contract by German automobile company:

Prism has been awarded the SAP retail system maintenance contract, for a long term of 3 years, by a large German automobile company this quarter.

• SAP support contract from Nycomed, a global pharmaceutical company:

Nycomed awarded Prism contract to support and monitor their operative SAP system on a daily basis in 2011. Nycomed ranks 28th among global pharmaceutical companies and is the 16th largest provider of OTC medicines with a strong presence in Europe and in the emerging markets in Russia/ Commonwealth of Independent States, Asia and Latin America.

• SAP implementation support for global retail & logistics company in Germany:

Prism has won contract for SAP implementation by a global retail, logistics and distribution company. Consultants of Prism have taken over major work packages to enable the client to accomplish project goals efficiently and effectively.

Sri Lanka:

• SAP implementation project for Textured Jersey:

Prism Informatics has successfully implemented SAP in Sri Lankan company- Textured Jersey. Textured Jersey is jointly owned by Pacific Textiles and Brandix Lanka. Pacific Textiles is a listed company in Hong Kong with one of the largest manufacturing facilities in China. Brandix Lanka is the largest apparel exporter in Sri Lanka and supports Textured as a strategic link in their supply chain.

Thailand:

• SAP CRM contract from S.B. Furniture Group of Companies, Thailand

Prism has won contract for SAP CRM by S.B. Furniture Group of Companies. S.B. Furniture Group began its operations since 1953 and has maintained its image as a specialist in the manufacturing of high quality furniture. Project involves providing end to end retail system solution to the client.

For further details please coordinate:

Atul Malikram

9827092823