Glodyne releases Q2 FY 10 -11 reports, revenues up by 278% YoY

by CXOtoday Staff    Oct 25, 2010

finacial report210Glodyne Technoserve, a technology infrastructure management services company reported its consolidated unaudited financial results for the quarter ended September 30, 2010.

Annand Sarnaaik, Chairman and MD remarked, “The quarter saw a strong performance with a revenue growth of 278 percent year on year. The acquisition of DecisionOne was completed in June 2010 and its integration is on track.”

During the second quarter of the financial year 2010-11 (Q2 FY11), revenue grew by 278 percent over Q2 FY10 to Rs. 478.76 crore. EBITDA grew by 96 percent over Q2 FY10 to Rs. 77.81 crore. Net profit for Q2 FY11, was Rs. 39.04 crore, up 56 percent over Q2 FY10. Basic EPS for the quarter was Rs. 16.29 as compared to Rs. 11.17 for the corresponding period of the previous year. However, the growth is on consolidated basis and it factors in revenue for the quarter from DecisionOne.

The company also informed that ten new clients were added in the quarter by Glodyne and its subsidiaries.

“Strategic expansion, based on innovative insights, is our key focus area and Glodyne is determined to deliver the maximum value to all our clients, partners and stakeholders,” Sarnaaik concluded.