GSS Infotech Announces Its Annual Results for FY2019

Business Wire India

• GSS Infotech reported a PAT of Rs.11.63 Cr. which is an increase of 59% and Revenue of Rs. 157.8 Cr, an increase of about 11.3% over the previous year on a consolidated basis
• Similarly, on a standalone basis the company reported PAT of Rs.8.33 Cr a yearly growth of 86% and Revenues of 30.86 Cr. which is an increase of 35.6% over the previous Financial Year

GSS Infotech Limited, a global IT services company, today announced its results for the full Financial year and 4^th Quarter, ending March 31, 2019, on a consolidated and standalone basis.

Yearly Financial Highlights

• Apr 2018 - Mar 2019
  • Consolidate FY19 Revenues were Rs.157.8 Cr. compared to Rs. 141.7 Cr., an increase of Rs.16.09 Cr which is 11.3% growth from FY 2018.
  • Consolidated PAT for the full year stood at Rs. 11.6 Cr. compared to Rs.7.3 Cr., an increase of Rs. 4.3 Cr. which is 58.9% growth from the previous year.
  • On a standalone basis, the Revenues reported were Rs.30.8 Cr. compared to Rs. 22.7 Cr. an increase of Rs. 8.1 Cr. which is 35.6% growth over the previous year.
  • Standalone PAT stood at Rs 8.3 Cr. up from Rs.4.48 Cr., an increase of Rs.3.85 Cr., which is 85.9% over the last year.

Quarterly Financial Highlights

• Dec 2018 – Mar 2019
  • At a Consolidated level the quarter revenues decreased by Rs.3.48cr, which is 8.46% on QoQ basis, while the same increased by 6.09% on YoY basis.
  • Consolidated PAT stood at Rs.1.07cr a drop of Rs.1.08 cr. from Rs. 2.15cr QoQ due to decrease in decrease in revenues and Forex Losses
  • On a standalone basis, Revenues were Rs. 8.5 Cr. down from Rs. 10.1 Cr. a decrease of 1.5cr. QoQ which is 14.85%, while the revenues increased by 37.9% on YoY basis from Rs. 6.2 cr to Rs.8.55Cr.
  • Similarly, Standalone PAT stood at Rs.0.83cr. Vs. 1.77 cr. in Q3, a drop of Rs. 0.94 cr., which is 53% hence the PAT % in Q4 stood at 9.70% Vs 17.50% of the Revenues in Q3.

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

During the year FY 2019, the revenue growth has been encouraging and operationally the company showed a strong performance, owing to organic growth and contribution from acquisition of Nexii Labs Inc, US. We foresee the strong performance to continue in the next year too.

Management Outlook

GSS Infotech enhances its current focus on Digital transformation and 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 are pleased with our Revenues and Profit growth year on year. Our company continues to focus on technology areas, such as IT security, Infrastructure Management, Digital Transformation, Storage/Backup and Engineering services. To support the growth that we have experienced so far we are engaged in active conversations with companies who can potentially add value to our existing service lines. Going forward, company’s focus would be to close the strong sales pipeline that we currently have and also augment the company’s strength with acquisitions.”