Financial Technologies (India) Limited (Financial Technologies), the global leader in offering technology solutions and domain expertise for creating and operating financial markets for multi asset class, announced today its un-audited financial results for the quarter ended September 30, 2010.
• Financial Technologies (Standalone) operating revenue increased by 48% to Rs. 1,092 million (Q-o-Q) for the quarter ended September 30, 2010 from Rs. 736 million in the last quarter
• Profit from Operations before Other Income & Interest (Standalone) increased by 116% to Rs. 577 million(Q-o-Q) for the quarter ended September 30, 2010 from Rs.267 million in the last quarter
• Net Profit (Standalone, excluding capital gain on shares) increased by 54% to Rs. 696 million(Q-o-Q) for the quarter ended September 30, 2010 from Rs. 452 million in the last quarter
• The board declared interim dividend of 100% on the face value of Rs 2/- per share
Standalone performance for the half year ended September 30, 2010:
H1 FY2010-11 (Apr - Sept 2010) vs. H1 FY2009-10 (Apr - Sept 2009)
• Operating revenue increased by 27% to Rs. 1,828 million
• Profit from Operations before Other Income & Interest (Standalone) increased by 32% to Rs.844 million
• Net profit excluding capital gain on shares increased by 39% to Rs. 1,148 million.
Commenting on Financial Technologies' Q2 FY 2010-11 performance, Dewang Neralla, Whole Time Director, said: "We have witnessed a yet another strong quarter. Operating revenue increased by 48% to Rs. 1,092 million quarter on quarter. Net profit excluding capital gain on sale of shares increased by 54% to Rs. 696 million quarter on quarter. We are confident that the company is well positioned for long term growth.
This quarter the focus has been on execution. Two of our international exchanges went successfully live; SMX commenced operations on August 31, 2010 in Singapore and GBOT started on October 15, 2010 in Mauritius. These are multi asset class electronic exchanges poised to address the trading requirement in an effective and efficient manner in the respective geographies.
On the domestic front, we have experienced a steady growth. MCX witnessed 53% Y-o-Y growth in volumes with 84% market share, MCX-SX garnered 52% market share in FX- Derivatives. IEX maintained its leadership position with 87% market share in electricity trading. NSEL introduced an array of unique investment products like e-gold and e-silver. Eco system ventures like NBHC, ATOM and Ticker have also witnessed growth over the quarter."