Blue Star Infotech witnesses best ever quarter on quarter revenue growth at 49%

Blue Star Infotech Limited, the global software services and solutions provider, today announced a 49% increase in consolidated income
By: Blue Star Infotech
 
MUMBAI, India - July 19, 2013 - PRLog -- mumbai, India — July 18, 2013— Blue Star Infotech Limited, the global software services and solutions provider, today announced a 49% increase in consolidated income at Rs. 5,936 Lakhs for quarter ended June 30, 2013, compared to Rs. 3,987 Lakhs for the same quarter last year. This sizeable increase in the total income has made it the best quarter in the history of the company and marks a good beginning for the new financial year. The company also saw a remarkable growth in profit after tax for the quarter to Rs. 408 Lakhs compared to Rs. 90 Lakhs for the same period last year, a growth of 353%.  The total income has grown by 16% from the last quarter i.e. Q4, FY 12-13.

Key Business Highlights

·         The company strengthened its foothold in emerging technologies such as Business Intelligence and Analytics by entering in a strategic alliance with Activecubes Solutions India Pvt. Limited. Activecubes is a global firm operating in Decision Management space, providing Business Intelligence and Analytics solutions

·         The company has expanded its global presence by opening up a new centre in Malaysia

·         Increased revenues from USA operations and the transition of existing clients into million dollar accounts have considerably contributed to the company’s growth

The company has consistently grown for seven consecutive quarters. The key reasons for this significant growth in the last quarter are expansion of its strategic accounts as well as increase in annuity business. The company’s average deal size now is almost twice as much as what it was earlier. The company has achieved notable growth in its Business Intelligence/Analytics business and continues its focus on moving up the value chain by becoming a more solution–centric player. The company sees an increase in revenue per employee as well and plans to induct fresh talent into the system as the current employee utilization remains steady.

Commenting on the results, Sunil Bhatia, MD & CEO, Blue Star Infotech Ltd. said, “One of the key reasons for our noteworthy growth is increase in business from strategic accounts and existing customers through superior account management. Also, we see positive business sentiment in our largest market, US. The company also sees a lot of traction in ASEAN region and hence the plan to come up with a new center in Malaysia.  In the coming months, our focus would also be towards leveraging our Global Delivery Model primarily through the Milwaukee center. Creation of Intellectual Property in emerging technologies like cloud and in our key target verticals such as Travel & Hospitality would continue to be an important focus area in the coming quarters.”

About Blue Star Infotech Ltd.

Blue Star Infotech Limited (www.bsil.com), a technology consulting and services company, combines the best of engineering, creativity and technology to deliver the next generation of software solutions to its global customers and enable them to be future-ready.

Part of the well-known Blue Star Group, Blue Star Infotech is a listed company with its global headquarters in Mumbai, India, and with operations in USA, UK, Europe, Malaysia, and Singapore. The Company is focused on delivering value-added and future-proofed software solutions by leveraging emerging technologies and trends while preserving existing investments for gaining competitive advantages. Teams comprising of engineers, designers and consultants across the globe work in conjunction with our labs and partners to deliver a superlative customer experience and best-in-class software solutions.

Blue Star Infotech  caters to the IT and software R&D needs of enterprises globally, and  offers a broad spectrum of services ranging from Application Development and Management, Product Engineering, Package Implementation and Testing to emerging areas such as Business Intelligence/Analytics, Mobility and Cloud Computing.

Blue Star Infotech has successfully completed more than 800 major IT projects on a wide range of hardware and software platforms. It has delivered more than 1600 product releases for its technology customers worldwide. Its technology labs for Mobility, Cloud Computing, Analytics and Usability Engineering incubate and propagate new methodologies, standards, tools and solutions. This coupled with its CMMi Level 5 and ISO 9001:2000 assessed Quality Assurance processes, assures world-class standards for all its deliverables.

Forward looking statements

We have disclosed forward-looking information so that investors can comprehend the Company’s prospects and make informed investment decisions. This release and other written and oral statements that we make periodically contain such forward-looking statements that set out anticipated results based on the Management’s plans and assumptions. We have tried, wherever possible, to qualify such statements by using words such as ‘anticipates’, ‘estimates’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’ and words and terms of similar substance in connection with any discussion of future operating or financial performance.

We do not guarantee that any forward-looking statement will be realised, although we believe we have been diligent and prudent in our plan and assumptions. The achievement of future results is subject to risk, uncertainties and validity of inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated or projected. Investors should bear this in mind as they consider forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, please contact:

Sudeshna Mukherjee
Corporate Communications
Blue Star Infotech Ltd.
8th Floor, The Great Oasis,
Plot No D-13, MIDC, Andheri (East),
Mumbai - 400 093, India
Tel: +91-22 6685 6969
Fax: +91-22 6688 6999
Email: globalhq@bsil.com
End
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Tags:BSIL, Blue Star Infotech, q1, Q1 Results, Profit
Industry:Information technology
Location:Mumbai - Maharashtra - India
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