| Revenue Analysis |
| Revenue from Operations increased
by 143% to Rs 3,343.22 million (net of excise duty)
in FY 2008-09 compared to Rs 1,375.56 million in FY
2007-08. The Company mainly derived revenues from
sale of IPR licenses, annual maintenance charges,
software customisation and from project based services. |
| Other Income |
| Other income (excluding profit on
sale of shares) during the year was at Rs 1,651.30
million as compared to Rs 935.33 million in the previous
year, an increase of 77%. Other income comprised mainly
of interest / dividend income on investments, profit
on sale of investments, shared business support services,
gain on repurchase of ZCCBs and exchange rate fluctuation.
During the previous financial year 2007-08, the Company
had made profit on sale of investments of Rs 11,210.12
million as compared to Rs 2,202.65 million in the
current year. Further, during the current year the
Company had a gain (net of expenses) of Rs 115.34
million on account of extinguishment of ZCCBs of US$
9.5 million. |
| Expense Review |
| Total operating and other expenses
during the current year stood at Rs 2,252.98 million
as compared to Rs 881.09 million in the previous year.
In the current year, operating and other expenses
includes a provision of Rs 637.63 million for diminution
in the value of long term investments. |
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| During the year under review, the
operating cost (excluding provision for diminution
in the value of investments) has increased in absolute
terms. However it constitutes 47% of total revenue
during the year as compared to 60% in the previous
year, resulting a decrease of 13% of total revenue. |
| Profit Analysis (excluding profit
on sale of shares) |
- Operating profit before interest, depreciation
and tax (EBITDA) during the year increased by
92% to Rs 2,654.70 million, compared to EBITDA
of Rs 1,384.38 million in FY 2007-08
- Profit before tax for FY 2008-09 increased by
106% to Rs 2,580.91 million compared to Rs 1,251.54
million in FY 2007-08
- Profit after tax during the year increased by
113% to
Rs 2,064.54 million in comparison to Rs 969.91
million in FY 2007-08
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| Cautionary Statements |
| This report may contain forward-looking
statements about Financial Technologies (India) Ltd
and its group companies, including their business
operations, strategy and expected financial performance
and condition. Forward-looking statements include
statements that are predictive in nature, depend upon
or refer to future events or conditions, or concern
future financial performance (including revenues,
earnings or growth rates), possible future Company
plans and action. Forward-looking statements are based
on current expectations and understanding about future
events. They are inherently subject to, among other
things, risks, uncertainties and assumptions about
the Company, economic factors and the industry in
general. The Company’s actual performance and
events could differ materially from those expressed
or implied by forward-looking statements made by the
Company due to, but not limited to, important factors
such as general economic, political and market factors
in India and internationally, competition, technological
change and changes in Government regulations. |
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