Blue Star Infotech Profits Double
Mumbai, India, October 17, 2014: Blue Star Infotech Limited, the global software services and solutions provider, today declared its second quarter results for FY 2014-15.
- Total Revenue at Rs. 6,420.97 Lakhs as compared to Rs. 6,716.59 Lakhs for the same quarter last
- Total Operating Profit grew by 143% and stood at Rs. 630.88 Lakhs as compared to Rs. 259.96 Lakhs for the same quarter last year
- Half year (H1) operating profit is up 39% at Rs. 902.92 Lakhs as against Rs. 648.58 Lakhs for the same period last year
- Profit after Tax for the quarter stood at Rs. 569.53 Lakhs, a remarkable growth of 86% as compared to Rs. 306.18 Lakhs for the same quarter last year. This significant rise in PAT is due to improvement in quality of accounts and revenue mix
Key Highlights
- Blue Star Infotech expanded its operations geographically and ventured into the hospitality sector in United Arab Emirates. The company won a new deal from one of the leading international property operators for rendering collaboration and service planning offerings
- Adding to its already esteemed portfolio of clients in the Travel and Hospitality sector, Blue Star Infotech added a new travel customer – a prominent Online Travel Agent based in US
- The company won three deals to provide enterprise software services to a Malaysian oil & gas company, to a media house in India and to an engineering company in India
- Blue Star Infotech was recognized as the Leader in Outsourced Software Development Segment by Zinnov Management Consulting. The company has been positioned in the Leadership Zone in the Consumer Software segment and in Execution Zone in the Enterprise Software segment.
- Consolidating its position as a comprehensive IT solutions provider and strengthening its client relationships, Blue Star Infotech expanded its service offerings, both quantitatively and qualitatively to some of the company’s existing large accounts. Some of the prominent services the company is providing to its key customers include –
a. Helping one of its clients, a leading global clinical trial management solutions provider to integrate its recent acquisitions and streamline their IT Infrastructure. Also helping the client to restructure the services they provide to their clients
b. Providing mobility testing services to an existing client, an US based multinational technology corporation. We are also devising solutions for the client’s customers
c. Partnering a multi-billion Fortune 500 client by providing travel domain consulting services. We are also deploying projects across 24 of the client’s global locations and have opened up 13 new service lines for them
Sunil Bhatia, CEO & MD of Blue Star Infotech Ltd., said “We are pleased to announce a strong Q2 performance with significant increase in PAT and Total Operating Profit. We acquired the complete stake of our JV and closed unremunerative business and hence our top line remained flat. We have executed well in the market place and will continue with our growth pace in acquiring new customers and deploying new capabilities. Our internal operations are more streamlined, thereby reducing operational costs. We have also effectively improved the revenue structure.”
