Financial Technologies (India) Limited (Financial Technologies) India's leading technology solutions provider for equity, commodities, forex and bond markets, announced today its reviewed unaudited financial results for the quarter ended Sept 30, 2009.
- Financial Technologies' operating revenue (Standalone) increased by 46% to
Rs. 85.6 crore for Q2 FY 2009-10 (Q-o-Q)
- Net Profit excluding capital gain on shares (Standalone) increased by 202%
to Rs. 61.9 crore for Q2 FY 2009-10 (Q-o-Q)
- The board declared interim dividend of 100% (Rs. 2/- per share on the face value of Rs. 2/- per share)
Commenting on the results, Mr. Dewang Neralla, Whole Time Director, Financial Technologies said: "We are pleased with our results and we are confident that the Company is well positioned for growth over the medium-to-long term. Operating revenue has increased by 46% to Rs.85.6 crore (Q-o-Q). Net profit excluding capital gain on shares has grown by 202% to Rs.61.9 crore (Q-o-Q). The steady performance is borne out by strong operational growth in all the three business segments.
Some of key developments during this quarter - IDBI Capital Market Services signed up FTIL's ODINTM-front-end trading solution-to leverage on its efficient technology, enhanced controls and superior risk management system. MCX-SX clocked a record turnover of Rs. 10,798 crore on October 7, 2009 .IEX and NSEL have continued to maintain leadership position with over 90% market share. IEX started trading in Term-ahead Contracts from 15th September'09
As regards our ecosystem ventures, NBHC has seen steady growth across all its business segments. With an aim of creating a comprehensive and end-to-end digital payment ecosystem in India, 'atom' has launched 'sugam' targeting the rural and semi urban population."
Broad Investment Philosophy
The Company, as part of its core business strategy promotes and invests in new 'Exchange', 'Technology' and 'Ecosystem' ventures that utilize its technological capabilities and domain expertise towards creating world class enterprises. The investment in each such venture is assessed for its rrisks and is limited to a pre-determined level and will generate returns after the ventures start ramping-up operations in 2 to 4 years time frame. The company, as part of its non-linear business model, will continue to unlock value by broadening the investor base of its ventures.
Despite continuing investments in these ventures, our cash surplus including investment in mutual funds (standalone) is at Rs. 1,342.9 crore as on Sept 30, 2009
Note: The total profit after tax of Rs. 218.2 crore is arrived after providing deferred tax credit of Rs. 0.5 crore and current tax of Rs. 92.4 crore for the quarter ended Sept 30, 2009
Key Business Highlights
Q2 FY 2009-10 (July-September 2009) vs. Q1 FY 2009-10 (April-June 2009)
- The operating revenue (standalone) has increased by 46% to Rs. 85.6 crore in Q2 FY 2009-10 as compared to Rs. 58.5 crore in Q1 FY 2009-10
- Profit from operations (standalone) has increased by 168% to Rs. 46.7 crore in Q2 FY 2009-10 as compared to Rs.17.4 crore in Q1 FY 2009-10
- The EBITDA excluding capital gain on shares (standalone) has increased by 195% to Rs.74.7 crore in Q2 FY 2009-10 as compared to Rs. 25.3 crore in Q1 FY 2009-10
- Net Profit excluding capital gain on shares (standalone) increased by 202% to Rs.61.9 crore in Q2 FY 2009-10 as compared to Rs.20.5 crore in Q1 FY 2009-10