Datamatics Announces Q3 FY2019 Results

MUMBAI, January 31, 2019 /PRNewswire/ --

Consolidated revenue for the quarter up by 22% y-o-y to INR 2,859.25 Million and EBITDA at INR 316.62 Million, up by 52% y-o-y  

Datamatics Global Services Ltd. (DGSL), a global IT & BPM company, today announced the financial results for the third quarter and nine months ended on December 31, 2018.

Consolidated Financial Highlights - Q3 FY2019 

• Revenue at INR 2,859.3 million; up 22% y-o-y, up 2% q-o-q
• EBITDA at INR 316.6 million; up 52% y-o-y, up by 1% q-o-q
• PBT at INR 192.7 million; down by 23% y-o-y, down by 41% q-o-q
• PAT at INR 128.4 million down; by 31% y-o-y, down by 46% q-o-q

Consolidated Financial Highlights - 9M FY2019 

• Revenue at INR 8,266.3 million; up 22% y-o-y
• EBITDA at INR 946.9 million; up 61% y-o-y
• PBT at INR 792.3 million, up 12% y-o-y
• PAT at INR 580.2 million; up 3% y-o-y

Commenting on the Q3 financial performance, Rahul Kanodia, Vice Chairman and CEO, Datamatics, said, "Our revenue and EBITDA for the quarter have witnessed healthy growth and the business has delivered good performance. However PBT has declined primarily due to forex hedging gains accrued in FY2018 and exchange loss in current quarter due to revaluation of foreign currency debtors at closing exchange rate. We see steady business growth in the coming quarters."

Operational highlights  

• For 9M FY2019, USA continues to be major contributor at 61% whereas contributions from Europe, India and Rest of World stood at 19%, 15% and 5% respectively.
• In terms of sectorial contribution to the revenue, BFSI, Publishing and Manufacturing were the top three sectors contributing 25%, 27% and 10% respectively.
• Top 5 clients contributed 24%; top 10 clients contributed 36%, whereas contribution from top 20 clients to the revenue for stood at 49%.

Business Updates Q3 FY2019 

• Datamatics launched the new version of its RPA product TruBot 3.0 in Q3. The features of this version makes it extremely user friendly for business users to build their own bots which will enable customers and enterprises to scale up their RPA program.
• Datamatics added 6 new customers in Q3 FY2019
• Datamatics continued its focus on developing partner & reseller program. In the quarter, they have signed up 15 new partners. Partner strength now totals to 30 partners across the globe.
• During the quarter, board of directors of Datamatics and Lumina Datamatics considered and approved a proposal to merge the two companies into Datamatics. The merged company would then be vertically split into two companies, namely, Datamatics Global Services Ltd. and LDR E-Retail Ltd. The shareholders of DGSL will have an identical shareholding pattern in both Datamatics and LDR E-Retail Ltd. The later will be renamed as Lumina Datamatics Limited.
• Datamatics was re-appraised at CMMI Institute's Capability Maturity Model Integration (CMMI) level 4 (Dev Ver 1.3).
• During the quarter, Datamatics received multiple awards and recognitions including -
  • Datamatics was featured in the IDC report on 'Robotic Process Automation Vendor Assessment 2018 for Asia/Pacific (Excluding Japan)'. The report covered the evolving automation ecosystem and recognizes Datamatics TruBot as a leading technology vendor in the RPA space.
  • Datamatics was recognized as a RPA Service Provider by Forrester, a leading analyst firm in their recent report 'Now Tech: Robotic Process Automation Services, Q4 2018'.
  • During the quarter, Computer Society of India recognised Datamatics as Best Cognitive Technology Provider of the Year 2018. Datamatics is recognized for its Robotic Process Automation (RPA) product, TruBot which helped a leading bank in India to automate their credit limit extension process.

About Datamatics Global Services Limited 

Datamatics (BSE: 532528 | NSE: DATAMATICS) provides intelligent solutions for data driven businesses to increase productivity and enhance customer experience. The company's portfolio of service offerings spans across Information Technology Services, Business Process Management, Engineering Services and Big Data & Analytics all powered by Artificial Intelligence. It has established products in Robotics Process Automation, Advanced Analytics, Business Intelligence and Automated Fare Collection. Datamatics services over 500 customers globally across Banking & Financial Services, Insurance, Healthcare, Manufacturing, International Organizations and Media & Publishing. Headquartered in Mumbai, the Company has presence across 4 continents with major delivery centers in the USA, India and Philippines with an employee base of 10,000. To know more about Datamatics, visit https://www.datamatics.com

Safe Harbour 

Some of the statements in this update that are not historical facts are forward-looking statements. These forward-looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concerning our business and the markets in which we operate. These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward-looking statements. These risks include, but are not limited to, the level of market demand for our services, the highly-competitive market for the types of services that we offer, market conditions that could cause our customers to reduce their spending for our services, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and other risks not specifically mentioned herein but those that are common to industry.

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Mehul Mehta
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