FTIL Results: 2012-13 has been a watershed year for Financial Technologies

 Technology solutions and domain expertise provider, Financial Technologies (India) has announced its audited financial results for the year ending March 31, 2013.

The company achieved Rs. 752 crore from Rs. 501 crore in terms of consolidated income from operations for the year ended March 31, 2013. The net profit (excluding profit from sale of share) data for the year ended March 31, 2013 increased by 237% to Rs.227 crore from Rs. 67 crore for the year ended March 31, 2012.

Dewang Neralla, Co-Founder & Director, Financial Technologies said, "On a consolidated basis our profits (excluding profit from sale of shares) has grown by 237% to Rs 227 crore. NSEL profit after tax crossed the Rs 127 crore mark in the current year (Rs 29 crore last year). IEX volumes grew by 62% and led to profit growth of 94% to Rs 66 crore and continue to lead with 97% market share in the day-ahead market. NBHC saw its net profit grow by 353% to Rs 14.5 crore."

He added, "Our consolidated results were achieved despite MCX share of associate in minority profit reduced from 31% to 26% and losses in international subsidiaries. We expect them to scale up over the next couple of years and start contributing. We are very excited as the global foot print of Financial Technologies created and owned exchanges start contributing financially too in the coming few years."

Other key features of the results showed an increase of 41% in standalone PAT (excluding profit from sale of shares) from Rs. 228 crore to Rs. 323 crore. The standalone cash and cash equivalents stood at Rs 1,469 crore.