Chennai, Tamil Nadu, India, Thursday, July 25, 2013 -- (Business Wire India) -- Financial Software testing pioneers, Thinksoft Global Services Ltd. (BSE:533121) (NSE: THINKSOFT), announced its first quarter results ended on 30th June' 2013. Thinksoft Global Services is a specialist in financial and banking software testing services, and is the only listed independent testing service provider in India. The results are available on the company's website, http://www.thinksoftglobal.com
PERFORMANCE HIGHLIGHTS
Consolidated Q-o-Q Review
-- Operating revenue was Rs 43.0 crore during the quarter under review as compared to Rs 37.4 crore during the sequential previous quarter reflecting an increase of 15% in rupee terms and in USD by 7% to $ 7.46 Mn
--Total income was Rs 49.0 crore during the quarter under review as compared to Rs 37.7 crore during the sequential previous quarter, an increase of 30% and in USD by 22% to $ 8.53 Mn
-- The Company reported EBITDA of Rs 10.4 crore as compared to Rs 4.8 crore during the sequential previous quarter
-- EBITDA Margin stood at 24.0% for Q1FY14 as against 12.9% in Q4FY13; up 1112bps
-- Net profit stood at Rs 10.3 crore during the quarter under review as compared to Rs 2.2 crore during the sequential previous quarter, an increase of 366%
--Basic EPS stood at Rs 10.12, increase of 364% on sequential basis
Commenting on the results, Mr.A.V. Asvini Kumar, Chairman & Managing Director, Thinksoft Global, said "The Company saw a strong/ improved performance during the quarter with operating revenues increasing by 15% and net profits increasing by 366% compared to the previous quarter. The Cards & Payments segment and the Europe geography has been the key driver for growth during the quarter. We are confident that the growth momentum will continue as we ramp different segments of our business."
About Thinksoft Global
Thinksoft Global is a specialist in financial software testing with over 14-million person hour track records for Global 500 financial and insurance organisations in USA, UK, Europe, India and Asia-Pacific. Through its domain focus, structured testing methodologies, offshore delivery, and test automation expertise, Thinksoft helps clients realise 'business ready software', compress timelines, and reduce software product life cycle costs. In the last 14 years, Thinksoft Global has established a successful track record of handling large independent functional testing assignments. Thinksoft has established a global presence/ footprint in New York, London, Frankfurt, Singapore, Bangalore and Chennai. Thinksoft Global is the Winner of the Deloitte Tech Fast 50 India and Tech Fast 500 AsiaPac - 2006, 2007 and 2008. Thinksoft is ISO 9001:2000 certified for 'Providing offshore testing and documentation services for the Banking, Financial Services, and Insurance verticals.
PERFORMANCE HIGHLIGHTS
Consolidated Q-o-Q Review
-- Operating revenue was Rs 43.0 crore during the quarter under review as compared to Rs 37.4 crore during the sequential previous quarter reflecting an increase of 15% in rupee terms and in USD by 7% to $ 7.46 Mn
--Total income was Rs 49.0 crore during the quarter under review as compared to Rs 37.7 crore during the sequential previous quarter, an increase of 30% and in USD by 22% to $ 8.53 Mn
-- The Company reported EBITDA of Rs 10.4 crore as compared to Rs 4.8 crore during the sequential previous quarter
-- EBITDA Margin stood at 24.0% for Q1FY14 as against 12.9% in Q4FY13; up 1112bps
-- Net profit stood at Rs 10.3 crore during the quarter under review as compared to Rs 2.2 crore during the sequential previous quarter, an increase of 366%
--Basic EPS stood at Rs 10.12, increase of 364% on sequential basis
Commenting on the results, Mr.A.V. Asvini Kumar, Chairman & Managing Director, Thinksoft Global, said "The Company saw a strong/ improved performance during the quarter with operating revenues increasing by 15% and net profits increasing by 366% compared to the previous quarter. The Cards & Payments segment and the Europe geography has been the key driver for growth during the quarter. We are confident that the growth momentum will continue as we ramp different segments of our business."
About Thinksoft Global
Thinksoft Global is a specialist in financial software testing with over 14-million person hour track records for Global 500 financial and insurance organisations in USA, UK, Europe, India and Asia-Pacific. Through its domain focus, structured testing methodologies, offshore delivery, and test automation expertise, Thinksoft helps clients realise 'business ready software', compress timelines, and reduce software product life cycle costs. In the last 14 years, Thinksoft Global has established a successful track record of handling large independent functional testing assignments. Thinksoft has established a global presence/ footprint in New York, London, Frankfurt, Singapore, Bangalore and Chennai. Thinksoft Global is the Winner of the Deloitte Tech Fast 50 India and Tech Fast 500 AsiaPac - 2006, 2007 and 2008. Thinksoft is ISO 9001:2000 certified for 'Providing offshore testing and documentation services for the Banking, Financial Services, and Insurance verticals.
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