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GSS, Infotech

Consolidated Revenues were maintained at Rs. 37.55 Cr. almost the same as previous quarter which stood at Rs. 37.62 Cr.

14.08.2019 - 10:32:58

GSS Infotech, Announces Its Quarterly Results for Q1 FY2020 Reporting an Increase in Consolidated PAT of Rs. 0.63 Cr., From Rs. 1.07 Cr. to 1.70 Cr., an Increase of 58.8 Percent QoQ

Business Wire India
GSS Infotech Limited, a global IT services company, today announced its results for the first quarter of FY20, ending June 30th, 2019, on a consolidated and standalone basis.
 
Financial Highlights
 
  • Apr - June 2019
    • Consolidated Revenues were Rs. 37.55 Cr. for Q1 FY 20 compared to Rs. 37.62 Cr. for Q4 FY 19., reporting a QoQ decrease of 0.20%.
    • Consolidated PAT stood at Rs. 1.70 Cr. for Q1 FY 20 compared to Rs. 1.07 Cr. for the previous quarter reporting a QoQ increase of 58.8%
    • Standalone Revenues stood at Rs. 8.48 Cr. in Q1 FY 20, compared to Rs. 8.55 Cr. the previous quarter and increased from Rs. 6.55 Cr. from the same quarter the last year, representing a QoQ drop of 0.82%.
    • Standalone PAT stood at Rs. 0.53 Cr. down from Rs. 0.83 Cr. for Q1 FY 2020 and down from Rs. 2.80 Cr. from the same period last year. This represents a QoQ drop of 36%.
 
The results for Q1 FY20 were taken on record at the meeting of the Board of Directors held today. 

During the current quarter, the company has been consistent in performance with the previous quarter and operationally the company has maintained Revenues yet increased the PAT compared to the previous quarter. However, we foresee the strong performance for rest of the year. 

Management Outlook

GSS Infotech stays focused on Digital Transformation, Automation and Security for enterprises and technology providers in key technologies like Application development, Infrastructure management services, Cloud and Security focused on the ME, ASEAN and US region having its global delivery centre in Hyderabad.

GSS continues to strengthen its proven expertise in Application development, Infrastructure Management and IT services while adding Automation capabilities.

Speaking on the company's performance, Mr. Bhargav Marepally, Founder CEO, GSS Infotech Limited said, “though there is a nominal dip in the Revenues, the company did better on the profitability compared to the previous quarter. The company is continuing to actively pursue inorganic strategies. To that end the company is in active discussions with more than one target entity to potentially acquire them.”
About GSS Infotech

services, virtualization solutions and application management services. GSS Infotech has offices in Connecticut, New Jersey and Hyderabad.
@ businesswireindia.com