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PROFITABLE GROWTH MARKS AGC’S QUARTER ENDED 31ST DECEMBER 2014

Published by Gbaf News

Posted on February 17, 2015

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AGC Networks Limited, (BSE: 500463 and NSE: AGCNET), an Essar enterprise and a Global Solution Integrator announced unaudited financial results for Q3 FY 2015.

Key Consolidated Financial Highlights for Q3 FY 2015

Revenue for Q3 FY 2015 is Rs.232.75 Cr against Q3 FY 2014 at Rs.189.12 Cr
EBIDTA for Q3 FY15 is Rs.8.16 Cr against EBIDTA of Rs 24.69 Cr in Q3 FY 2014
Loss After Tax for Q3 FY 2015 is Rs.3.55 Cr, against Loss After Tax of Rs 89.63 Cr in Q3 FY 2014

Business Highlights

Improved market traction across geographies coupled with AGC’s laser focus on ‘Accelerating business’ for its customers is beginning to reflect in AGC’s performance. AGC is positioning itself strongly as the enterprise customer’s trusted advisor, delivering best-in-class customized technology solutions globally.

Speaking on the occasion, Anil Nair, MD & CEO, AGC Networks said “We represent the world’s best technology brands. Our consistently improving results endorse our competitive differentiation of enhanced responsiveness, execution excellence and design superiority. Future quarters will maintain our trajectory of all round improvement. Our relentless focus on driving the networking of AGC’s global tech resource pool for offshore/onshore delivery is helping the company emerge as a global brand of choice for customers.”

AmalThakore, Chief Financial Officer, AGC Networks said “Sustaining the turnaround hinges on focusing on cash-flow, financial controls and corporate governance. This will continue to be the foundation for meeting our near and longer term growth objectives across all geographies we operate in.”

Notable wins in the quarter across the globe include:

USA: A Unified Communications deal from one of the largest banking organizations headquartered in Atlanta, serving a broad range of consumer, commercial, corporate and institutional clients
Successful AV design integration and solutioning for a global worldwide leader in multichannel customer experience
ANZ: A Video Conferencing project as a fully integrated Unified Communications service from an international university with campuses in Melbourne and Vietnam
MEA: Cyber Security solutions (setting up of SOC, database activity monitoring and Security Information management services) being implemented for three leading banks across Kenya and the Middle East
India: Call center application services for a MNC Insurance company
Nepal: Dynamic services on IVR for the first private mobile operator in Nepal
Bangladesh: Enabled a virtualized environment for the country’s second largest cellular service provider