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Geometric declares revenue of INR 2,752.8 Mn


 
PRLog - Feb. 3, 2014 - MUMBAI, India -- Geometric (http://www.geometricglobal.com/) Ltd. (BSE: 532312, NSE: GEOMETRIC) announced its Q3 financial results for FY 2013 - 2014 at the board meeting held today.

Highlights for the quarter ended December 31, 2014 (Q3 FY14)

·         Consolidated revenue for the quarter in INR terms at INR 2,752.80 Mn as against INR 2,865.36 Mn in the last quarter, and INR 2,508.34 Mn in the corresponding quarter last year

·         Signed new deals worth USD 9.25 Mn

·         Added two new customers

·         EPS for the quarter at INR 1.19

The Company declared consolidated revenues of USD 44.4 Mn for Q3FY14, compared to USD 46.26 Mn in Q2FY14 and USD 46.31 Mn in Q3FY13. This softening in revenues accompanied by a FOREX loss due to forward covers and subsidiary revaluations, had an impact on the margins of the Company. The Profit after Tax (PAT) stood at INR 75.27 Mn, as against 165.66 MN and 190.96 Mn in the previous quarter and the corresponding quarter last year respectively.

Mr. Manu Parpia, Managing Director & CEO, Geometric Limited said, “As anticipated, the unfortunate effect of the holiday period, combined with a decline in revenues from a large US based customer had a adverse impact on us this quarter. I am pleased to confirm that going forward we will resume our path to growth. We see a revival in demand and have seen an increase in pipeline for the second successive quarter.”

Key wins and additional business highlights for Q3 FY14

During the quarter, the company signed new deals worth USD 9.25 Mn including:

Multi-million dollar deal for enterprise implementation of our DFX solution at a leading equipment supplier for the semiconductor industry
Teamcenter PLM implementation and interfacing application development for a leading automotive OEM in Europe
Expanded our new engagement with the joint venture company of a Chinese and European automotive company for PLM Implementation, configuration and data migration as well as for CAD application development
CAD Unification and ERP Integration project for a leading Oil & Gas technology company in Europe
Program to support the product localization process for food processing equipment at the Indian operations of a global equipment manufacturer
Started a new engagement for Should Costing services for a leading agricultural equipment manufacturer from Europe

Other important business highlights for the quarter include:

Appointed Nitin Tappe as COO, and John Leney as Global Sales Head (Farming), with effect from January 1, 2014
Launched version 2014 of our leading CAM solution, CAMWorks
Launched a revised go to market plan, with a comprehensive sales training program to enable the Company to build a scalable business model

About Geometric

Geometric is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services, Product Lifecycle Management (PLM) solutions, Embedded System solutions, and Digital Technology solutions enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.

Listed on the Bombay and National stock exchanges in India, the company recorded consolidated revenues of Rupees 10.20 billion (US Dollars 187.57 million) for the year ended March 2013. It employs about 4500 people across 13 global delivery locations in the US, the UK, France, Germany, Romania, India, and China. Geometric was assessed as CMMI 1.1 Level 5 for its software services and is ISO 9001:2008 certified for engineering operations. The company’s operations are also ISO 27001:2005 certified.

The copyright/ trademarks of all products referenced herein are held by their respective companies.

For more information, please contact:

Kavita Karnani  |
 +91.20.40284496  |  kavita.karnani@geometricglobal.com

Contact
Prachi Kedia
912267056500
***@geometricglobal.com

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