Geometric declares Profits of Rs.10.20 Billion for FY13

Geometric has announced its Q4 and annual results for FY 2012-2013 at its board meeting. As per the financial results year ending March 31, 2013 data, the Company’s consolidated revenues went up to 26.3% which is Rs.10,203.63 million from Rs.8,078.86 million last year. The operating profits for the fiscal doubled from Rs.810.28 million to Rs.1,596 million in FY13.The Company received EPS of Rs.10.95 as compared to Rs.9.45 in the last fiscal. The Board of Directors recommended dividend of Rs.1.70 on the face value of Rs.2 per share.

Manu Parpia, Managing Director & CEO, Geometric, said, "The market for engineering services and engineering IT remains positive. This year, we faced the challenge in that one of our large customers had to contend with difficult market conditions.  This contributed to a setback which I believe is temporary. We are on the right track with the right strategy to support the building of a sustainable scalable enterprise."

The key highlights of the quarter ending March 31, 2013 consolidated revenue data stood at Rs.2,471.26 million as against Rs.2,508.34 million in the last quarter. The company recorded operating revenues of US$45.79 million compared to revenues of US$46.31 million in the last quarter, and US$44.92 million in Q4FY12. The company had a total employee strength of over 4,600 employees as of March 31, 2013, including its subsidiaries.

Geometric added three new customers during Q4, and signed new deals worth Rs.6.85 million. Other business highlights for the quarter included introduction of version 3.0 of Glovius for Windows, with improved CAD Importer add-ons and optimized performance.