EBITDA up by 110.01 % YoY and 19.53 % QoQ
Chennai/Mumbai: May 10, 2017: 8K Miles Software Services, Ltd., a leading Global IT Business Transformation, Secure Cloud Solutions and Managed Services Provider, today announced the Company’s audited financial results for the quarter ended 31st March, 2017 as approved by the Board of Directors
Key Financial Highlights and Dividend:
- Gross Revenues grew to 533.82 crores, an increase of 96.40 % YoY
- EBITDA grew to 186.34 crores, an increase of 110.01 % YoY
- Net profit after minority interest grew to 104.15 crores, up by 163.11% YoY
- Recommend a Dividend of Rs.7/- per equity share (Face Value-Rs.5/-) for the year ended March 31, 2017
- To consider and Grant of stock options to the employees of the Company and its Subsidiaries.
Overall company performance during the recent fiscal year 2016-17 was excellent. Various factors contributed to the success last year including company consistently meeting the business objectives, increase in enterprise identity and access management business, additional capabilities to acquire new highly regulated customer’s faster, increase in recurring revenues through cloud managed services offerings and customer satisfaction resulting in repeat business. Recent acquisitions enabled 8K Miles to cross sell and upsell new cloud solutions and capabilities at a rapid speed with continuous security and continuous compliance as differentiators. The CloudEz platform along with secure and compliance control framework bring a huge value to highly regulated customers using the cloud.
“In the coming year, we see more and more enterprise workloads moving to public clouds such as Amazon Web Services, Microsoft Azure and Google Cloud as the need for accelerating enterprise wide Digital Transformation increase. With the support of our enhanced CloudEz platform features and compliance automation, large enterprise customers will be able to move highly regulated compliant workloads to move faster, operate more securely, and save substantial costs; all while benefitting from the scale and performance of the cloud. We continue to see a lot of cloud business opportunities around data center consolidation, modernization, and globalization among mid-size to large pharma and life sciences customers. “said Mr. Suresh Venkatachari, Chairman and Managing Director, 8K Miles Software Services Ltd.
Consolidated Financial Highlights for the Financial Year 2016-17:
|
Particulars
|
FY 16-17
|
FY 15-16
|
Y-o-Y growth
|
|
Revenue (INR Lakhs)
|
53,452
|
27,214
|
96.40%
|
|
EBITDA (INR Lakhs)
|
18,634
|
8,873
|
110.01%
|
|
PBT (INR Lakhs)
|
16,665
|
6,829
|
144.05%
|
|
PAT before Minority Interest
|
12,560
|
5,324
|
135.94%
|
|
PAT after Minority Interest
|
10,415
|
3,958
|
163.11%
|
Consolidated Financial Highlights for the Quarter ended 31 March 2017:
|
Particulars
|
Q4 FY 16-17
|
Q3 FY 16-17
|
Q-o-Q growth
|
|
Revenue (INR Lakhs)
|
16,664
|
14,177
|
17.54%
|
|
EBITDA (INR Lakhs)
|
5,833
|
4,880
|
19.53%
|
|
PBT (INR Lakhs)
|
5,374
|
4,382
|
22.65%
|
|
PAT before Minority Interest
|
4,018
|
3,260
|
23.25%
|
|
PAT after Minority Interest
|
3,434
|
2,686
|
27.85%
|
Key Business Highlights of FY 2016-17:
- 8K Miles has added about 8 new fortune 500 customers during FY 2016-17.
- Won cloud competency center opportunities for building enterprise wide cloud transformation capabilities for a large life sciences companies including demand generation and business innovation architecture areas.
- Engaged with multiple large pharmaceutical customers in their cloud transformation initiatives.
- Working with multiple healthcare providers to move their EHR software to cloud in a pilot mode.
- Introduced a new framework for Remote EHR support model for hospitals.
- Secured interoperability HL7 integration project with a westcoast healthcare provider.
- Won the ServiceNow implementation at a mid-size pharma customer.
- Performed NLP, OCR and Facial recognition analyses for a big public cloud provider.
- Signed MSA with one of the top SIs in the US to work on Healthcare and Life Sciences opportunities.
- Closed Pharma Validation contracts with multiple mid-size Pharmaceutical customers.
- 8K Miles launched ‘Automaton’, a new product offering automation of cloud operations (AWS, Azure) has been piloted at multiple Fortune 500 customers. This brings AI and Machine learning capabilities to cloud managed services.
- 8K Miles won multiple Identity Access Management and SSO opportunities to integrate top SaaS Applications with their Cloud Security platform. 8K Miles is in the process of on boarding 100s of SaaS Applications and also providing on-going SSO monitoring and cloud management services using its MISP platform.
Recognitions during FY 2016-17
- 8K Miles was recognized as a go to market partner for Amazon’s newly released AWS Managed Service product offering addressing Enterprise cloud customers alongwith other select cloud managed service providers.
- 8K Miles has achieved the following competencies which were third party certified: AWS Big Data Competency, AWS Devops competency, AWS Healthcare competency, AWS Life Sciences competency and AWS Audited MSP competency partner.
About 8K Miles:
8K Miles Software Services is a leading Global IT Business Transformation, Secure Cloud Solutions and Managed Services Provider company based in the San Francisco Bay area and a publicly traded company listed on Indian Stock Exchanges (NSE and BSE). 8KMiles Software Services provides digital technology solutions – SMAC (Social, Mobile, Analytics and Cloud) for seamless connectivity between consumers, SMBs, large enterprises, healthcare providers and pharmaceutical companies secured with EzIAM™ SaaS offering, CloudEzRx™ solution for cloud automation and our patented MISP™ platform for onboarding and accelerated Business Partner federations.