Datamatics Consolidated Net Grows 528%, Consolidated Revenue at Rs 401.14 million

Oct 25, 2008 10:00:00 AM

Mumbai, October 25, 2008: Datamatics Technologies Limited (BSE: 532528, NSE: "DATATECH") announced the results for the Q2FY09 ended 30 September 2008. Consolidated net profit for the period has gone up to Rs 57.50 million, up 528% from Rs 9.16 million reported in Q2FY08.

The company earned a consolidated income of Rs 401.14 million in the quarter, up from Rs 312.62 million earned in the same quarter in 2007-08, up 28.32% y-o-y.

"The growth was spurred by several projects from customers in varied sectors like humanitarian organizations, financial services, healthcare, online retail and market research. Many of these customers are well-established organizations who have selected us seeing the proven business value and technological advantages that we deliver.

Operational efficiencies due to the increased capacity at our Nashik Delivery Centre of Excellence, higher employee productivity, the Six Sigma initiative and our ability to deliver higher technology projects that earn us a premium have contributed to our improved performance in this quarter.

Our Research & Development efforts have led to the development of several platform-based solutions. In a historic first, Datamatics has copyrighted five technology products supporting these platform-based solutions last quarter. Datamatics owns the IP Rights to these platforms. It provides Datamatics a unique competitive advantage, and helps our Company carve out a niche for itself. This marks the entry of Datamatics into a superior league of companies in the industry.

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