Financial Technologies (standalone) PAT expands by 116% to Rs. 1 billion

July 1, 2007 - PRLog -- Mumbai, 30th June 2007:

Financial Technologies (India) Ltd. (Financial Technologies), the flagship company of the Financial Technologies Group and India’s leading technology solutions provider for equity, commodity, debt and forex markets, announced its audited financial results for the fiscal year ended March 31st, 2007.

Commenting on Financial Technologies’ FY 2006-07 performance, Dewang Neralla, Whole-time Director, Financial Technologies, said,  “We expect to continue to grow exponentially year-on-year driven by our IP-centric business model and technology domain expertise which has delivered another high growth year for us. Our revenue has grown annually at 81% and a net profit growth of 116% on a standalone basis.

•         The company has consolidated and progressed on all business fronts with flagship product ODIN TM capturing 90% estimated market share, a growth of 76% in the license base in equity markets, and a growth of 146% in the commodities market.
•         MCX is ranked as the world's third largest bullion exchange after New York Metal Exchange (NYMEX) and Tokyo Commodity Exchange (TOCOM).
•         The company has also launched two new ventures this year—TickerPlant Infovending Ltd. (TickerPlant) and Safal National Exchange (SNX) for fruits and vegetables which is a 49:51 JV with National Dairy Devolopment Board (NDDB).

We have successfully promoted six exchange ventures to become a global leader in promoting and creating financial markets, repositioning the brand “Made in India” from cost arbitrage value proposition to “Productized IP based service model” .

"Our innovative business model has scaled beyond the conventional dollar per hour, quarter on quarter, and sum of parts models adopted by traditional IT Software and service companies."

Key Business Highlights
Consolidated Results

FY2007 (April 2006–March 2007) vs. FY2006 (April 2005-March 2006)
•   The consolidated total income increased by 62% to Rs. 3251 million from Rs. 2012 million in the previous year.
•   STP Technologies Business has grown by 86 %
•   The exchange traded business has grown by 67 %
•   EBITDA was higher by 32% at Rs. 1634 million.  
•   PBT stood at Rs.1536 million, higher by 30 % YoY basis.
•   PAT stood at Rs. 1036 million as compared to Rs. 839 million in the last year.

Q4FY 2007 (January–March 2007) vs. Q4FY 2006 (January-March 2006)
•   The consolidated total income increased by 69% to Rs. 1084 million. Out of the total consolidated income:
•   STP Technologies Business has grown by 166%
•   Exchange businesses has grown by 63%
•   EBITDA was higher by 31% at Rs.470 million.
•   PBT stood at Rs. 434 million, higher by 28%.
•   PAT stood up at Rs. 183 million.

Standalone Results

FY2007 (April 2006–March 2007) vs. FY2006 (April 2005-March 2006)
•   The total revenue increased by 81 % on the YoY basis to Rs. 1741 million.
•   PBT was up by 85 % to Rs. 1168 million.
•   PAT expanded by 116 % at Rs. 1006 million.
•   Diluted EPS for the year increased to Rs. 20.91 from Rs. 9.64 of the previous year.

Q4FY 2007 (January–March 2007) vs. Q4FY 2006 (January-March 2006)
•   The total revenue increased by 158% to Rs. 528 million.
•   PBT was up 275 % to Rs.316 million
•   PAT expanded by 586% at Rs.269 million

About Financial Technologies (India) Ltd. (www.ftindia.com)

Financial Technologies (BSE- FINTECH, NSE- FINANTECH), is India's leading software product enterprise focused on developing mission-critical Straight -Through-Processing (STP) solutions. Financial Technologies has developed proven transaction automation technologies for Equities, Forex, Commodities and bonds markets. Deriving strength from its exhaustive library of product IPRs, Financial Technologies has set-up robust market-place platforms offering sophisticated 'exchange operations' and 'shared services' on high-end technology infrastructure.

Further, the Company has promoted MCX (www.mcxindia.com), India’s No. 1 multi commodity derivatives exchange; DGCX (www.dgcx.ae), the first international commodity derivatives market in the Middle East and IBS Forex (www.ibsfx.com), inter-bank foreign exchange platform. Other key exchange ventures include NSEL (www.nseap.com), SNX and GBOT Mauritius.

The Group has also incubated four technology ventures – NBHC (www.nbhcindia.com), TickerPlant Infovending (www.tickerplantindia.com), atom technologies (www.atomtech.in) and Riskraft Consulting (www.riskraft.com) – that support overall ecosystem development of financial marketplaces.

Safe Harbour Statement:

Certain statements made in this release with reference to future operations and performance of Financial Technologies, its subsidiaries and other group companies, are forward-looking statements, involving risks and uncertainties. Certain factors could cause actual results to differ materially from those in such forward-looking statements. The company does not undertake responsibility to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

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About Financial Technologies (India) Ltd. (www.ftindia.com)

Financial Technologies (BSE- FINTECH, NSE- FINANTECH), is India's leading software product enterprise focused on developing mission-critical Straight -Through-Processing (STP) solutions. Financial Technologies has developed proven transaction automation technologies for Equities, Forex, Commodities and bonds markets. Deriving strength from its exhaustive library of product IPRs, Financial Technologies has set-up robust market-place platforms offering sophisticated 'exchange operations' and 'shared services' on high-end technology infrastructure.

Website: www.ftindia.com