MUMBAI, India. July 27, 2015 – Geometric Ltd. announced its first quarter financial results for FY 2015-2016 at the board meeting held today.
Highlights for the quarter ended June 30, 2015 (Q1 FY16)
- Consolidated revenues in US$ terms rose 9% q-o-q and 4.1% y-o-y to USD 46.80M compared to US$ 42.92M in Q4FY15 and US$ 44.96M in Q1FY15
- Consolidated net profit after tax at INR 191.27M for the quarter, as against INR 32.92M for the previous quarter and INR 192.08M for the same quarter last year
- Signed new deals worth US$ 13.65M
- Added one new customer
- Improvement in retention, with annualized attrition for the quarter at 10.9%
- Consolidated EPS for the quarter at INR 2.97
The company declared operating revenues of INR 2,975.55M for the quarter, a growth of 11.1% and 10.7% respectively when compared to revenues of INR 2,679M in the previous quarter and INR 2688.45M in the corresponding quarter last year. The Company’s revenue excluding its joint venture company rose 8.1% and 3.5% to US$ 33.99 M from US$ 31.45M in Q4FY15 and US$ 32.82M in Q1FY15 respectively. This revenue growth, after removing the impact of one-time adjustments in revenue in Q4FY15, stood at 5.4% q-o-q.
Mr Manu Parpia, managing director & CEO said, “This quarter, we saw volume growth in both software services and engineering services. While our pipeline continues to grow, we are now emphasizing conversions. We have also taken several steps to streamline our operations, which should lead to an improvement in margins. Furthermore, the investments we made in improving our processes over the last twelve months are beginning to show results.”
The company had a total employee strength of over 4,800 employees as of June 30, 2015, including its subsidiaries.
Key wins and additional business highlights for Q1 FY16
The company signed new deals worth US$ 13.65M. Some of the significant wins in this quarter include:
- Won a large application management services contract with a leading aerospace OEM in North America
- Signed a deal with a major Automotive OEM for our 3D CAD viewer, Glovius in Japan
- Entered into a manufacturing engineering contract with an automotive major in North America
- Awarded a software development engagement with a key PLM ISV
- Won an Engineering services project with a leading Industrial & Heavy Equipment OEM
- Signed a new PLM services deal with a leading European car manufacturer
- Added a new global FMCG OEM for a plant engineering project in India
Other important business highlights for the quarter include:
- Appointed Rajiv Salkar as the global head of sales
- Launched CAMWorks Costing, which simplifies and standardizes the estimation process for machine shops
- Released DFMPro version 4.0 for NX
About Geometric
Geometric is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services, Product Lifecycle Management (PLM) solutions, Embedded System solutions, and Digital Technology solutions enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.
Listed on the Bombay and National stock exchanges in India, the company recorded consolidated revenues of Rupees 11.05 billion (US Dollars 180.61 million) for the year ended March 2015. It employs over 4800 people across 13 global delivery locations in the US, France, Germany, Romania, India, and China. Geometric has been assessed at Maturity Level 3 for CMMI 1.3-Development and CMMI 1.3-Services for its Software and Engineering Services business units and is ISO 9001:2008 certified for engineering operations. The company’s operations are also ISO 27001:2005 certified.
