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Press Release
News 2011

Accel Frontline Limited posts 99% revenue growth in Q4FY11 

Q4FY11

  • Consolidated Revenue at Rs 148.53 crore for Q4FY11, up 99% YoY and up 62% QoQ
  • Consolidated PAT at Rs 6.11 crore for Q4FY11, up 359% YoY and up 150% QoQ
  • Consolidated diluted EPS at Rs 2.71 for Q4FY11 vs Rs 0.59 for Q4FY10 and Rs 1.08 for Q3FY11

FY11

  • Consolidated Revenue up 46% at Rs 395.81 crore for FY11 vs Rs 271.55 crore for FY10
  • Consolidated PAT up 72% at Rs 10.13 crore for FY11 vs Rs 5.9 crore for FY10
  • Consolidated diluted EPS at Rs 4.50 for FY11 vs Rs 2.62 for FY10

Chennai, April 16, 2011:  Accel Frontline Limited (BSE: 532774, NSE: AFL), a leading IT services company announced its FY11 and Q4FY11 results.

Consolidated revenues for Q4FY11 stood at Rs 148.53 crore, up 99.13% YoY and up 62.01% QoQ. The corresponding figures were Rs 74.59 crore for Q4FY10 and Rs 91.68 crore for Q3FY11. The growth in consolidated revenue is attributable to new business from new geographies.

Consolidated PAT for Q4FY11 stood at Rs 6.11 crore, up 359.40% YoY and up 150.41% QoQ. The corresponding figures were Rs 1.33 crore for Q4FY10 and Rs 2.44 crore for Q3FY11. Consolidated PAT growth is on account of high margin businesses executed during the quarter.

For Q4FY11, consolidated diluted EPS stood at Rs 2.71 as compared to Rs 0.59 for Q4FY10 and Rs 1.08 for Q3FY11.

For the full year ended Mar 31, 2011, the company posted consolidated revenue of Rs 395.81 crore up 45.76% as compared to Rs 271.55 crore reported for the year ended Mar 31, 2010. The company’s consolidated profit after tax for the full year ended Mar 31, 2011 stood at Rs 10.13 crore up 71.69% as compared to Rs 5.90 crore reported for the year ended Mar 31, 2010. Consolidated diluted EPS stood at Rs 4.50 for the full year ended Mar 31, 2011 as compared to Rs 2.62 for the year ended Mar 31, 2010.

Commenting on the results, Mr N R Panicker, Chairman & CEO, Accel Frontline Limited said, "The strategic initiatives taken over the previous few quarters have now started yielding results for the company. This is reflected in the sterling performance during Q4FY11. We expect the growth momentum to continue in the coming quarters."

About Accel Frontline Limited
Accel Frontline Limited is one of India’s leading IT Services Company. Based in Chennai, the company’s core business is providing IT infrastructure services, software and managed services. The company has expertise in providing solutions in Banking, Telecom, Education and Government domains. Accel Frontline has a pan India footprint with a presence in over 110 locations. It also has subsidiaries in UAE, Singapore and Japan.

Safe Harbor
Certain statements included in this press release may constitute "forward-looking statements" in respect of the Company’s operations, performance, prospects and/or financial condition. By their nature, forward looking statements involve a number of risks, uncertainties and assumptions and actual results or events may differ materially from those expressed or implied by those statements. Accordingly, no assurance can be given that any particular expectation will be met and reliance should not be placed on any forward-looking statement. Additionally, forward looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. No responsibility or obligation is accepted to update or revise any forward-looking statement resulting from new information, future events or otherwise. Nothing in this presentation should be construed as a profit forecast.

This press release does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any shares in the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or investment decisions relating thereto, nor does it constitute a recommendation regarding the shares of the Company. Past performance cannot be relied upon as a guide to future performance. Information in this press release reflects the knowledge and information available at the time of its preparation.

Accel Frontline posts Revenue growth of 36% for Q3

Net Income : Up by 36% to Rs. 91.7Crores
PAT : Grew by 100% Rs. 2.4Crores

Chennai, 25th January, 2011:

Accel Frontline Limited (BSE: 532774, NSE: AFL), a leading IT Infrastructure Services company posted consolidated revenue of Rs. 91.7 Crores for the quarter ended on 31st December 2010, a rase of 36% over the corresponding previous period.

Accel Frontline's profit after tax in the third quarter of FY 2011 has increased to Rs.2.4 Crores from Rs. 1.2 Crores for the corresponding period last year. The company had a sequential growth of 9% in turnover and 472% in profits as compared to the quarter ended 30th September 2010.

The total consolidated revenue of Accel Frontline for the nine months of FY 2011 stood at Rs.247.2 crores, up by 26%. The profit for the same period is Rs. 4.0 Crores compared to Rs. 4.6 Crores in the previous year.

Commenting on the results, Mr. N.R.Panicker, Chairman, Accel Frontline said, "We are happy with the strong performance this quarter. Growing demand for IT services in the domestic market across various domains and our new strategies has helped us in growing the business. We are in the growth trajectory with many new opportunities in India and Middle East coming along. We expect the momentum to continue in the coming quarters too."

Some of the salient features of Q3 consolidated performance are as follows.

  • The company had an order intake of Rs.154 Crores during 3rd quarter for various system integration projects such as Data Centre integration, Network Management and Managed Services.

  • The company added 12 new clients for it various services.

  • Company improved its performance in UAE market bagging prestigious orders which are expected to be executed in the coming quarters.

  • New initiatives to set up new SEZ unit for software services in Chennai to be commissioned in Q4.

About Accel Frontline Ltd:

Accel Frontline Limited is one of the India’s leading IT Infrastructure Services Company based in Chennai. The Company’s core business is providing IT Infrastructure services, Software and managed services. The company has expertise in providing solutions to the domains of Banking, Telecom, Education and Government. Accel Frontline has a PAN India footprint with presence in 110 cities. It also has subsidiaries in UAE, Singapore and Japan.

For further Information
Contact

Mr. K R Chandrasekaran-CFO or Ms. Sweena Nair, Company Secretary
Accel Frontline Ltd
75, Nelson Manickam Road
Chennai- 600 029

Ph: 044-42252000

 

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