3i Infotech’s revenue at INR 1,344 crores and EBIDTA at INR 177 crores for FY2015

Mumbai, India, May 29, 2015: 3i Infotech Limited, a global provider of IT solutions and one of India’s largest software product companies, today announced its operating results for the fourth quarter and financial year ended March 31, 2015.

FINANCIAL HIGHLIGHTS

• Operating profit of Q4 2015 expanded 93% YoY
• Operating profit of Q4 2015 increased 42% QoQ vs. Q3 2015

Commenting on the results, Mr. B. Madhivanan, Managing Director & Global CEO, 3i Infotech Limited, said, “The initiatives aimed at streamlining the operations have delivered healthy results as EBITDA for Q4 2015 has risen reasonably over both the preceding quarter as well as last year.”

Consolidated results for the quarter ended March 31, 2015 

• Revenue from operations for the quarter is INR 305.31 crores as against INR 334.70 crores for the corresponding period of the previous year and INR 319.63 crores in the immediately preceding quarter.

• Profit before interest, depreciation, tax and exceptional items is INR 88.27 crores as compared to INR 24.30 crores in the corresponding quarter of the previous year and INR 25.51 crores in the immediately preceeding quarter.

• Loss after tax for the quarter stands at INR 396.08 crores, after interest INR 47.25 crores, Depreciation INR 57.48 crs, Tax INR 22.24 crores and Exceptional Items INR 357.50 crores. Exceptional items substantially include Impairment loss provided on a prudent basis INR 350.00 crores.

Consolidated results for the year ended March 31, 2015 

• Revenue for the year is INR 1,344.00 crores, as against INR 1307.89 crores. This increase in revenue is despite the sale of two of the Company’s subsidiaries, which were divested during the current year and whose full year revenue is included in the previous year.

• Profit before interest, depreciation, tax and exceptional items is INR 177.15 crores as compared to INR 221.79 crores (including one time forex gain INR 103.01 crores) in the previous year. The figure for the previous year includes full year figures of subsidiaries divested during the current year.

• Loss after tax for the year stands at INR 976.27 crores, after interest INR 211.40 crores, Depreciation INR 229.10 crs, Tax INR 39.53 crores and Exceptional Items INR 673.17 crores. Exceptional items substantially include Loss on sale of subsidiaries INR 287.64 crores and Impairment loss provided on a prudent basis INR 350.00 crores.

Mr. Charanjit Attra, Executive Director, having decided to pursue opportunities in the areas of advisory services relating to accounting and auditing on Ind AS (converged IFRS), has resigned from the Board with effect from May 28, 2015. The Board has accepted his resignation.