Raminfo (530951) Q4 99/00 earnings summary

Executive summary

• FY00 gross revenue Rs 88,168 thousand; PBT Rs 14,230 thousand and PAT Rs 12,458 thousand, versus Rs 53,211 thousand, Rs 9,181 thousand and Rs 8,245 thousand in FY99.

• Export growth, offshore delivery and the completed Aravali Technologies acquisition supported a strategic push toward global IT services and higher-value work.

Financial highlights

• Gross revenue rose from Rs 53,211 thousand in FY99 to Rs 88,168 thousand in FY00; PBITDA increased from Rs 19,451 thousand to Rs 28,468 thousand.

• FY00 interest was Rs 1,878 thousand, depreciation and amortization Rs 12,360 thousand, PBT Rs 14,230 thousand and PAT Rs 12,458 thousand.

• FY00 salary, wages and employee benefits totaled Rs 46,534 thousand, up from Rs 17,275 thousand in FY99; operating, administration and other expenses were Rs 19,806 thousand versus Rs 10,229 thousand.

Outlook and guidance

• Plans called for expanding the education network to 25 centers within 12 months; four owned centers and three franchise centers were operating, with a fourth owned center opened in Vizag in May 2000.

• Continued investment in export markets, development facilities, training infrastructure, product promotion and working capital was funded through equity placements.