News
Four Soft unaffected by financial crises; accomplishes 217% profit growth in the Second Quarter
27.10.2008
Rajshekhar Roy, the new CEO, to drive continued business growth of Four Soft
Financials at a glance for the quarter ended September 2008
- REVENUES Rs. 383.20 million (-8% YoY)
- EBIDTA Rs. 69.34 million (+81% YoY)
- PBT Rs. 50.29 million (+217% YoY)
- PAT Rs. 40.38 million (+254% YoY)
Highlights for the quarter
- 3 new customers signed across geographies
- Strategic wins in this quarter include one of the largest 3PLs in India
- Successful implementation of the flagship products at several prestigious customer locations
- Rajshekhar Roy takes over as CEO
Four Soft today announced strong financial results for its second fiscal quarter ended September 30, 2008. The PAT grew to Rs. 40.38 million for the quarter ended September 30, 2008, as compared to Rs. 11.41 million in the corresponding quarter last year. The revenues were of Rs. 383.20 million for the quarter ended September 30, 2008 as compared to Rs. 418.48 million in the corresponding quarter last year.
The quarter has seen a significant jump in profits due to increased operational efficiency and favorable foreign exchange rates. During the quarter, the company also successfully implemented its flagship products at numerous customer sites across the globe. The Company has established itself in the domestic market by adding 7 customers in the last one year and also hopes to further strengthen its presence by penetrating deeper into the Indian transportation and logistics industries.
The company has recorded Rs. 1,111.43 million in sales and a PBT of Rs. 418.36 million for the first half year of the year.
Mr. Biju S Nair, CFO, Four Soft Ltd. Said, “Four Soft has been witnessing a strong growth in profits for last three quarters. We are in a stronger financial position and are taking all possible measures to de-risk the company from any possible economic slowdown.”
Mr. Rajshekhar Roy, CEO added, “I am happy to state that we are seeing significant progress in terms of adding new customers in our existing markets specifically India, Japan and Europe. We are also focusing on new markets such as China, where we hope to build a sizable presence by the end of this financial year. The company has also started the implementation of Lean Management - this will play a major role in improving internal efficiencies thereby increasing profitability.”