Approval of audited financial results for the fourth quarter and year ended March 31, 2018 and recommendation of dividend on equity shares

GURUGRAM, May , 2018: The Board of Directors of the Company at its meeting held today approved the audited financial results of the Company (Standalone and Consolidated) for the fourth quarter and year ended March 31, 2018.

 

Standalone Financial Results

 

For the quarter ended March 31, 2018 the Company’s operating income was INR 58.48 Crore, as against INR 58.07 Crore in the corresponding quarter of the previous financial year, reflecting a marginal growth of 0.7%, due to de-growth in debt market issuances and sluggish growth in bank loan ratings. The other income in the quarter was higher by 60.6% as compared to corresponding quarter of the previous financial year, mainly due to profit on sale of certain real estate assets.

 

PBT for the quarter was at INR 40.57 Crore, reflecting a growth of 17.8%, against the corresponding quarter of the previous financial year. PAT for the quarter was at INR 27.41 Crore, higher by 15.9% against the corresponding quarter. The growth in PAT has been mainly due to growth in other income, while expenses have increased moderately.

 

For the year ended March 31, 2018, the Company’s operating income was INR 222.13 Crore, as against INR 210.90 Crore in the previous financial year, reflecting a growth of 5.3% mainly due to growth in financial sector and structured finance related ratings.

 

PBT for the year ended, before exceptional item, was INR 145.84 Crore, reflecting a growth of 14.6% against previous financial year, mainly due to growth in income and lesser expenses, as previous financial year had certain one off expenses.

 

Consolidated Financial Results

 

For the quarter ended March 31, 2018, consolidated operating income was INR 82.47 Crore, as against INR 78.78 Crore in the corresponding quarter of the previous financial year, reflecting a growth of 4.7% mainly due to export incentive & government subsidy in a subsidiary. The other income in the quarter was higher by 71.1% as compared to corresponding quarter of the previous financial year, mainly due to profit on sale of certain real estate assets. PBT for the quarter was higher by 21% at INR 45.54 Crore, as against INR 37.63 Crore in the corresponding quarter mainly due to higher total income.

 

For the year ended March 31, 2018, consolidated operating income was INR 308.87 Crore, as against INR 333.03 Crore in the previous financial year, showing a decline of 7.3% mainly due to sale of IT business in October 2016 and de-growth in consulting services revenues. PBT for the current year was at INR 156.80 Crore, as against INR 132.28 Crore, showing a growth of 18.5%, mainly due to export incentive & government subsidy in a subsidiary, as well as growth in other income.

 

For the year ended March 31, 2018, outsourcing and information services revenue growth (excluding export incentive and government subsidy aggregating to Rs. 8.47 Crore) was 7.2% driven by growth in domestic and global markets and adversely impacted by rupee appreciation.

 

Revenue growth of consulting services impacted due to de-emphasis on certain non-strategic segments. Margins are also impacted due to higher provisioning for doubtful debts and impairment of certain intangible assets.