Financial Technologies Q1 net income, revenues jump

Source: Financial Technologies

Financial Technologies (India) Limited (Financial Technologies) (BSE:FINTECH NSE:FINANTECH), India's leading technology solutions provider for capital, commodities and forex markets, today announced its unaudited financial results for the first quarter ended June 30, 2006.

Consolidated Performance Highlights for Q1FY2007

  • Consolidated total income increased by 217% to Rs. 82.23 crore
  • EBITDA was higher by 252% to Rs. 54.77 crore; EBITDA margin moved up from 60% to 67%
  • Profit before tax was up 261% to Rs. 52.84 crore
  • PAT (after minority interest) expanded by 157% at Rs. 27.21 crore
  • Board has recommended interim dividend at 40%

Financial Technologies' consolidated financial performance includes the financial performance of Financial Technologies (India) Limited, its operating subsidiaries and joint venture.

Commenting on Financial Technologies' Q1FY2007 performance, Jignesh Shah, Chairman & Managing Director of Financial Technologies, said, "Financial Technologies has delivered another significant growth performance during the first quarter. We have reported 217% growth in total income, while operating margins have improved further to 67%. This clearly establishes that our IP (Intellectual Property) centric business model is beyond the conventional quarter per quarter, dollar per hour and sum of parts models. Revenue growth has been driven by the increasing acceptance of our expanding suite of software products focused on STP technologies in both equities and commodities trading markets. At the same time, we have also focused on creating several new opportunities that would leverage our core strength in automating transactions. We believe that our business is in a strong position to participate in growth opportunities available in India and globally."

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