News / Infinite Computer Solutions Continues Rapid Growth; Declares Interim Dividend; Launches New Suite of Products and Platform
Nov 09, 2012

Bangalore, Karnataka, India: Infinite Computer Solutions (NSE Symbol: INFINITE / BSE Scrip Code: 533154), a global Information Technology service provider with expertise in Application Management, Infrastructure Management, Product Engineering Services, Next-Gen Messaging Platforms & Enterprise Mobility Solutions, today announced its results for the second quarter for fiscal 2012-13, as approved by its Board of Directors.

Consolidated INR results for the Quarter Ended September 30, 2012:

-- Revenue – INR 348 Crore; YoY growth of 35.3%, QoQ growth of 9.0%

-- EBITDA – INR 58 Crore; YoY EBITDA increased by 33.5%, QoQ growth of 8.1%

-- EBITDA margin at 16.7%

-- PAT – INR 31.3 Crore; YoY growth of 1.7%. QoQ growth of -11.7%

-- EPS for the quarter – INR 7.3

Consolidated USD results for the Quarter Ended September 30, 2012:

-- Revenue – USD 63 Million*; YoY growth of 12.1%. QoQ growth of 7.0%

-- EBITDA – USD 10.5 Million*; YoY EBITDA increased by 10.5%. QoQ growth of 6.2%

-- EBITDA margin at 16.7%.

-- PAT – USD 5.7 Million*; YoY Growth at -15.8%. QoQ growth of -13.3%

*Average Forex Rate: INR 55.24 = 1 USD

“I am delighted to announce another quarter of strong growth riding on the back of our stated strategy of growing higher value-added services. The traction in the non-ADM businesses and the increase in revenue sharing engagement model in this quarter is a clear reflection of Infinite’s focus areas for the future” said, Upinder Zutshi, Managing Director and CEO.

He also added, “We are also excited about the launch of Infinite’s Rich Communication Suite of products aimed at the Telecom Carriers on both IMS and non-IMS networks. Our RCS solution enables mobile network operators to deliver new media-rich instant messaging services, including one-to-one chat, group chat, inter-carrier chat, text messaging, multimedia messaging, file transfer, and video sharing. As new phases of the product roll-out, incorporating social media and long-term messaging storage from a unified portal, we anticipate this product to become the center of the customer’s wireless life. We believe this would be the pivot around which wireless experiences evolve in the future.”

Business Updates:

-- Launched Industry Leading Rich Communication Suite of Products for Carriers on both IMS and non-IMS Networks.

-- Infinite Convergence, a 100% owned subsidiary of Infinite, joined GSMA, a trade association representing the interests of mobile operators around the world and a leader in defining and promoting Rich Communications Services (RCS).

-- Infinite named Finalist in World Communication Awards. Infinite’s Personal Messaging Cloud product has been included in the “Best New Service: Enterprise” for its ability to streamline communication among carriers and devices.

-- Launched iTaaS (Infinite Tech-Support as a Service): iTaaS is a comprehensive cloud-based offering that automates, standardizes, transforms, and consolidates enterprise IT Infrastructure Services, Management, and Operations across the global enterprise in line with ITIL standards.

Customers:

-- Infinite added 6 new clients during the quarter with significant traction in some of the existing clients.

-- We have 62 active clients. Out of these (on an LTM basis), we have 18 USD 1 mn+ clients, 11 clients with USD 5 mn+, 5 clients with USD 10 mn+ revenue and 4 clients with USD 20mn+ revenue contribution.

-- Client Wins:

-- Signed fixed price offshore deal with an existing Telecom OEM client for a smart, content-aware platform that enables scalability, intelligence, and flexibility at the edge of the network.

-- Signed up a US-based provider of Networks Solutions in the Energy & Utility Sector for SoW based project in the AMS space.

-- Signed first Offshore testing contract with a leading telecom provider of Wi-Max services.

-- Signed a new deal for Independent Verification & Validation Services with a Healthcare provider in the US.

-- Signed Platform support contract with an existing Telecom OEM Client.

-- MSAs Signed: We signed Major Master Service Agreements (MSA) with a Major Wealth Management Solutions Provider, a Leading Utility Company in the US, a US-based leading provider of Temperature Controlled transportation, a Fortune 1000 Telecom OEM, and a Fortune 500 Media and Content Provider in the US.

Employees: 

-- Global Employee Headcount at the end of the Second Quarter stood at 4655 Strong; a net increase of 320 employees over the previous quarter.

-- India Headcount stands at 3200 employees.

Dividend Announcement: 

The Board of Directors, at its meeting held on November 09th, 2012, recommended an interim dividend of 60% (INR 6 per equity share of par value INR 10 each) for the six months ended September 30, 2012. The dividend record date is November 23, 2012, and dividend payment commences December 6, 2012.

About Infinite

Infinite Computer Solutions (NSE Symbol: INFINITE / BSE Scrip Code: 533154) is a global Information Technology service provider with expertise in the provision of Application Development and Maintenance, IT Infrastructure Services, and Management, Product Engineering Services, Next-Gen Messaging Platforms & Enterprise Mobility Solutions.

With a global team of around 5000, we partner with Fortune 500 companies from Telecom, Healthcare, Media and Content, Energy and Utilities and Financial Services verticals helping them achieve objectives through flexible engagement models including risk-reward, revenue-share engagements, global delivery from eight delivery centers around the world, technology & domain expertise and process excellence. We leverage our expertise as well as large project execution experience for the benefit of our clients in areas such as Enterprise Mobility, Next-Generation Messaging Platforms, Big Data / Enterprise Analytics, Cloud Enablement, SoA, Optics, Switching & Routing, and platform-based Tech Support Services.

Infinite has been recognized by NASSCOM amongst the Top 20 IT Players in India, by Forbes as Asia’s 200 Best-Under-a-Billion companies, and appeared in the Top 5 Employers of Choice in the DQ-IDC survey. Our peers and various industry bodies have recognized us for our Mobility Platform, which includes being runners-up at Mobile Merits Awards - 2012, finalist in the CTIA Emerging Technology Awards – 2012, finalist in Hot Companies & Technology Award – 2012, etc.

For more information please visit www.infinite.com

Disclaimer

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the Indian IT services industry, including with respect to tax incentives and export benefits, adverse changes in foreign laws, including those relating to outsourcing and immigration, increasing competition in and the conditions of the Indian and global IT services industry, the prices we are able to obtain for our services, wage levels in India for IT professionals, the loss of significant customers the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic and foreign laws, regulations and taxes and changes in competition in the information technology/telecommunication industries. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.

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