Onward Technologies Limited Announces Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013
January 23, 2014 at 08:14 am
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Onward Technologies Limited announced unaudited consolidated and standalone earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, on consolidated basis, the company announced net sales or income from operations of INR 410.392 million compared to INR 379.986 million a year ago. Profit from operations before other income, finance costs and exceptional items were INR 22.332 million compared to INR 23.869 million a year ago. Profit from ordinary activities before tax was INR 17.931 million compared to INR 17.674 million a year ago. Net profit was INR 17.361 million or INR 1.16 per diluted share for before and after extraordinary items compared to INR 17.269 million or INR 1.16 per diluted share for before and after extraordinary items a year ago.
For the nine months, on consolidated basis, the company announced net sales or income from operations of INR 1,254.832 million compared to INR 1,072.821 million a year ago. Profit from operations before other income, finance costs and exceptional items were INR 66.475 million compared to INR 80.408 million a year ago. Profit from ordinary activities before tax was INR 50.242 million compared to INR 57.646 million a year ago. Net profit was INR 48.563 million or INR 3.27 per diluted share for before and after extraordinary items compared to INR 56.389 million or INR 3.80 per diluted share for before and after extraordinary items a year ago.
For the quarter, on standalone basis, the company announced net sales or income from operations of INR 170.629 million compared to INR 164.187 million a year ago. Profit from operations before other income, finance costs and exceptional items were INR 20.919 million compared to INR 11.148 million a year ago. Profit from ordinary activities before tax was INR 17.249 million compared to INR 7.079 million a year ago. Net profit was INR 17.249 million or INR 1.15 per diluted share for before and after extraordinary items compared to INR 7.079 million or INR 0.48 per diluted share for before and after extraordinary items a year ago.
For the nine months, on standalone basis, the company announced net sales or income from operations of INR 532.943 million compared to INR 504.025 million a year ago. Profit from operations before other income, finance costs and exceptional items were INR 59.802 million compared to INR 51.497 million a year ago. Profit from ordinary activities before tax was INR 48.924 million compared to INR 36.785 million a year ago. Net profit was INR 48.924 million or INR 3.30 per diluted share for before and after extraordinary items compared to INR 36.785 million or INR 2.47 per diluted share for before and after extraordinary items a year ago.
Onward Technologies Limited is an India-based software outsourcing company specializing in digital, and engineering research and development (ER&D) services. The Company is focused on three verticals: transportation and mobility, industrial equipment and heavy machinery, and healthcare and medical technology (MedTech). Its service lines include digital services, mechanical engineering services, embedded and electronics engineering services, and information technology services. Its digital services include engineering automation, big data analytics, cloud and DevOps, artificial intelligence/machine learning, and digital with virtual reality/augmented reality. Its mechanical engineering services include new product design and development, and value engineering. Its embedded and electronics engineering services include platform services hardware, software and connectivity solutions. Its information technology services include enterprise applications, and data management and reporting.
Onward Technologies Limited Announces Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013