Zylog Systems reveals Q4 FY13 results at Rs. 561.2 crore

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Chennai based technology solutions and software service provider, Zylog Systems has announced its quarter fourth and twelve months results ended 31st March 2013.

Sudarshan Venkatraman, Chairman  & CEO, Zylog Systems said, “The Direct costs vis-à-vis the Revenue have jumped 2.9% year-on-year which was due to re-deployment onsite of costs due to several project and manpower related issues which are in the process of getting resolved during the FY 2014. The PAT has taken a sizeable hit primarily due to substantial increases in interest and depreciation charges.”

He added, “There has also been an increase in global clientele, who have appreciated the Company’s solutions in a highly competitive environment. The Company has raised USD 20 Million during the first quarter of the FY2014 by diluting its equity capital by way of a GDR offering. "

The highlights of the quarterly results show that the consolidated revenues stood at Rs 561.2 cr; down by 18% on QoQ basis & down by 17% on YoY basis. Net profit for Q4 FY13 went down by 97.5 % at Rs 93 Lacs on QoQ basis. The EBITDA Margin stood at 17.64% in Q4FY13, up 306 bps from Q3FY13, primarily on account of tighter control of costs.

On the other hand the 12 month results showed that the company earned consolidated revenue of Rs. 2,499.65 cr was up by 9.98% on YoY basis. Basic EPS stood at Rs 35.15 for FY13.......See More