Glodyne Technoserve Limited (formerly Paradyne Infotech Limited) a leading Technology Infrastructure Management Services Company reported today its consolidated financial results for the quarter and financial year ending March 31, 2008

Highlights

Consolidated results for the year ended March 31, 2008
• Income at Rs 307.36 cr. YoY growth 83%
• PAT at Rs 41.62 cr. YoY growth 107%
• EPS at Rs 38.26 against Rs 18.46 last year
• EBITDA at Rs 55.92 cr. YoY growth 112%

Consolidated results for the quarter ending March 31, 2008

• Income at Rs 96.74 cr.

• PAT at Rs 14.02 cr.

• EPS at Rs 12.89

• EBITDA at Rs 18.67 cr.

• 19 new clients added in the quarter by Glodyne and it’s subsidiaries.

The consolidated results for Q4-FY07 (previous year) include the figures for the entire twelve months ended on March 31,2007, pertaining to the acquired company Links Group International Inc.,(LGI) and hence not comparable with the consolidated results for the Q4- FY08 quarter.

Others Highlights:

• Rechristened the Company as Glodyne Technoserve Limited from Paradyne Infotech Limited to have a single brand identity across geographies.

• Acquired Front Office Technologies, Inc New York based Infrastructure Management Services (IMS) Company.

• 72 new clients added in the year organically and 21 added inorganically through FOT acquisition.

• An EBITDA margin for the year was at 18.91% against 15.82% in FY 2007.

• Glodyne was the winner in the Deloitte Technology Top 500 Asia Pacific 2007 program.

Business Outlook:

• For the fiscal 2009, consolidated revenue on organic basis is expected to be between Rs 442 cr – 468 cr.

• For the first quarter of FY 2008-09, consolidated revenue on organic basis is expected to be between Rs 99 cr– 104 cr.

Chairman and Managing Director, Annand Sarnaaik said: “The last financial year has been an exciting one for Glodyne. The Company’s performance surpassed the guidance for the year. We operate in the fast growing Infrastructure Management space which has huge business potential globally. At Glodyne we are focused on becoming a global Technology IMS Company by penetrating high value verticals and geographies both organically and inorganically.”

Acquisition Status:

The acquisitions we have made complement our portfolios and have strengthened our position in the US market.

– Front Office Technologies Inc:

Glodyne acquired Front Office Technologies Inc a New York based IMS services Company. This acquisition has added key new relationships in the Banking and Finance, Media and FMCG domain to the Technology IMS business. The integration process is in progress.

– Glodyne Technoserve East Inc. (Formerly Links Group International Inc.)

The integration of Links Group International Inc. has been completed successfully and is now Glodyne Technoserve East Inc.

At Glodyne, we will continue to make targeted acquisitions in the IMS space, while maintaining and enhancing our operating model.

Sourced From: Escher Communications

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