Published On: 2016-02-12

Mumbai – February 12, 2016 - 3i Infotech Limited, a global provider of IT solutions and one of India’s mid-tier software product companies, today announced its operating results for the third quarter ended December 31, 2015.

FINANCIAL HIGHLIGHTS

• Operating profit of Q3 2016 is INR 39.36 crores vis-a-vis INR 39.88 crores QoQ and INR 44.56 crores YoY.
• Loss at a consolidated level stood at INR 78.57 crores vis-à-vis loss of INR 92.31 crores QoQ and loss of INR 299.59 crores YoY.

Consolidated results for the quarter ended December 31, 2015

- Revenue from operations for the quarter is INR 286.39 crores as against INR 292.85 crores in the immediately preceding quarter and INR 319.63 crores for the corresponding period of the previous year. However, the revenue for corresponding quarter of the previous year includes revenue of one of the Company’s subsidiaries, which was divested during Q3 of FY 2015. Excluding the performance of the divested subsidiary, the revenue for Q3-FY2015 stands at INR 291.76 crores.

- EBIDTA from operations is INR 39.36 crores as compared to INR 39.88 crores in the immediately preceding quarter and INR 44.56 crores in the corresponding quarter of the previous year. Excluding the performance of the divested subsidiary, the operating EBIDTA for Q3-FY2015 stands at INR 43.32 crores.

The revenue for Q3-FY2015 includes revenue of one of the Company’s subsidiaries,which was divested during Q3 of FY 2015.

• Loss after tax for the quarter stands at INR 78.57 crores, after Interest INR 46.70 crores, Depreciation INR 50.60 crores and Tax INR 8.84 crores. This is against a loss of INR 92.31 crores QoQ and INR 299.59 crores YoY.

Consolidated results for the nine months ended December 31, 2015

• Revenue from operations for the nine months is INR 853.84 crores as against INR 1,038.69 crores for the corresponding period of the previous year. The revenue for 9M-FY2015 includes revenue of two of the Company’s subsidiaries, which were divested during Q2 and Q3 of FY 2015. Excluding the performance of the divested subsidiaries, the revenue for 9M-FY2015 stands at INR 861.88 crores.

•  EBIDTA from operations is INR 109.65 crores as compared to INR 112.94 crores in the corresponding period of the previous year. Excluding the performance of the divested subsidiaries, the operating EBIDTA for 9M-FY2015 stands at INR 92.30 crores.
   

The revenue for 9M-FY2015 includes revenue of two of the Company’s subsidiaries, which were divested during Q2 and Q3 of FY 2015.

Loss after tax for the nine months stands at INR 244.92 crores, after Interest INR 142.47 crores, Depreciation INR 149.66 crores and Tax INR 21.65 crores. This is against a loss of INR 580.19 crores in the corresponding period of the previous year.

The Company has submitted a Debt Realignment Scheme (DRS) proposal to its Lenders which is under active consideration by the Company’s Lenders. The Company is hopeful of receiving the requisite support of its Lenders to the DRS proposal and implementing the same during Q4-FY2016. The Company is also in the process of finalizing an Offering Circular to be submitted to its FCCB Holders for restructuring its FCCBs on the lines of the discussions during the Company’s Board Meeting held on December 7, 2015.

About 3i Infotech

Incorporated in 1993, 3i Infotech (www.3i-infotech.com) is a public global Information Technology company committed to Empowering Business Transformation. A comprehensive set of IP based software solutions (20+), coupled with a wide range of IT services, uniquely positions the company to address the dynamic requirements of a variety of industry verticals, predominantly Banking, Insurance, Capital Markets, Asset & Wealth Management (BFSI). Furthermore it offers solutions to the government, manufacturing, retail, distribution, telecom and healthcare sectors. Among its repertoire of IPR based solutions the flagship products of the Company are Premia, MFund, Orion, Kastle ULS and Amlock.

The Company has a very strong foothold and customer base in geographies like South Asia, Middle East and Africa, Asia Pacific, Kingdom of Saudi Arabia and North America.

The Company is also focused on value added services such as business intelligence & analytics services, infrastructure management services, testing & compliance, application development & maintenance, consulting and its BPO offerings.

The Company, headquartered in Mumbai, India has over 8500 employees in more than 20 offices across 12 countries and over 1000 customers in more than 50 countries across 5 continents.