Omnitech Q1 PAT to Rs. 13.63 crore

Omnitech InfoSolutions Solutions provider,announced its first quarter results,ended June 30,2010.

The company has posted a topline of Rs 74.56 Crore on a consolidated basis for the first quarter ended June 30,2010,as against Rs 42.54 Crore for the previous quarter registering a 75.27% growth.

The EBITDA for this quarter stood at Rs 23.82 Crore as against Rs 13.79 Crore for the previous period last year. EBITDA margins stood at 31.95% in the first quarter compared to 32.41% in the corresponding previous quarter.

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Commenting on the performance of the first quarter,Atul Hemani,Managing Director,Omnitech InfoSolutions said The increase in the topline is attributable to robust domestic growth and contribution from Far East market.

The earnings per share (EPS) works out to Rs 9.83 for the first quarter ended 30th June 2010,as compared to Rs. 5.77 for the first quarter ended June 2009.

On a standalone basis,the total income increased 64.37% to 69.92 Crore. PAT increased by 73.66% to Rs 13.18 Crore.

Talking about the future organic growth plans,Hemani said,We are expecting an organic growth of 30-35 per cent in FY-11. The company will invest around Rs. 25-30 crore to launch Disaster Recovery Management sites in NCR and Bangalore region.

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