GSS Infotech Limited Announces Second Quarter Results FY 19

Business Wire India

• GSS Infotech, PAT increase marginally by 0.7% despite total income decreased by 2.8% QoQ on a consolidated basis.
• While PAT increased by 4.6% and total income grew by 0.4% QoQ on a standalone basis.

GSS Infotech Limited, a global IT services company, today announced its results for the second quarter of FY19, ending September 30, 2018, on a consolidated and standalone basis.

Financial Highlights

• July – Sept 2018
  • Reported a Total Income of Rs.39.46 Cr. for Q2 FY 19 compared to Rs 40.62 cr. for Q1 FY 19., reporting a QoQ drop of 2.8% while the same total income reported an increase of 11.48% for YoY basis.
  • PAT stood at Rs. 4.22 Cr. for Q2 FY 19 compared to Rs.4.18 Cr for the previous quarter reporting a QoQ growth of 0.7%. Similarly, the profit grew from Rs. 1.28 Cr from the same quarter a year before to Rs. 4.22 Cr.
  • On a standalone basis, the Total Income grew to Rs. 6.58 Cr. in the Q2 FY 19 from Rs. 6.55 Cr the previous quarter and from Rs. 5.31 cr. from the same quarter the last year, representing a QoQ growth of 0.4% and YoY growth of 23.75%.
  • Reported a PAT of Rs 2.93 Cr. for Q2 FY 2019.

The results for Q2 FY19 were taken on record at the meeting of the Board of Directors held today.

During the current quarter, the profitability has been encouraging despite a small dip in the consolidated total income and we foresee the rest to be encouraging.

Management Outlook

GSS Infotech continues its focus on Digital transformation, Automation for enterprises and technology providers in key technologies like Application development, Infrastructure management services, Mobility, Cloud and Security focused on the ME, ASEAN and US region and having its global delivery centre in Hyderabad.

GSS continues to strengthen its proven expertise in Application development, Infrastructure Management and IT services while adding Automation capabilities.

Speaking on the company's performance, Mr. Bhargav Marepally, Founder CEO, GSS Infotech Limited said, “We have optimized our performance and are seeing stable profitability levels despite a small dip in overall Income. We plan to strengthen our automation services business further, that is expected to show up in performance during the rest of the year.”