Financial Technologies posts quarterly results

Source: Financial Technologies (India)

Financial Technologies (India) Limited (Financial Technologies), global leader in offering technology solutions and domain expertise for creating and operating financial markets for multi asset class, announced today its unaudited financial results for the quarter and nine months ended December 31, 2011.

Standalone performance of Financial Technologies for the quarter ended December 31,
2011:
 Total Income from operations for the quarter ended December 31, 2011 increased by 38% to Rs. 1,121 million as compared to Rs. 814 million for quarter ended December 31, 2010
 EBIDTA, excluding profit on sale of shares and diminution in long term investments for the quarter ended December 31, 2011 increased by 223% to Rs. 1,512 million as compared to Rs. 468 million for quarter ended December 31, 2010
 Net Profit excluding profit on sale of shares and diminution in long term investments for the quarter ended December 31, 2011 increased by 212% to Rs. 1,179 million as compared to Rs. 378 million for quarter ended December 31, 2010
 The board declared third interim dividend of 100% on the face value of Rs 2/- per share

Standalone performance of Financial Technologies for the nine months ended December 31, 2011:
 Total Income from operations for the nine months ended December 31, 2011 increased by 15% to Rs. 3,038 million as compared to Rs. 2,642 million for the nine months ended December 31, 2010
 EBIDTA, excluding profit on sale of shares and diminution in long term investments for the nine months ended December 31, 2011 increased by 65% to Rs. 2,855 million as compared to Rs. 1,732 million for the nine months ended December 31, 2010
 Net Profit excluding profit on sale of shares and diminution in long term investments for the nine months ended December 31, 2011 increased by 48% to Rs. 2,263 million as compared to Rs. 1,527 million for the nine months ended December 31, 2010 

Commenting on Financial Technologies' Standalone third quarter and nine months FY 2011-12 performance, Dewang Neralla, Whole Time Director, said: "We have been growing at a steady pace. Total income from operations was uons was up by 15% year on year to Rs. 3,038 million for the nine months ended December 31, 2011. Net profit excluding profit on sale of shares and diminution in long term investments for the same period was up by 48% year on year to Rs.2,263 million.

During this quarter, we repaid ZCCBs aggregating USD 133.16 million including premium thereon. This demonstrates our commitment to the investors.

This quarter too, we continued with our leadership position across asset classes we serve. MCX had 87%, IEX had 92% and NSEL had over 99% market share in their respective asset classes. On the international exchanges front, SMX witnessed average daily turnover of USD 561 million and GBOT's average daily turnover was USD 39 million. BFX commenced live trading of its conventional trading segment on the 23rd November 2011.

Our ecosystem businesses are focused on broadening the customer base and reaching out to the end users."

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