Geometric has announced its Q3 financial results for FY 2013-14 at its latest board meeting. During this quarter, the Company earned consolidated revenue for the quarter in INR terms at INR2,752.80 million as against INR2,865.36 million in the last quarter, and INR2,508.34 million in the corresponding quarter last year. The EPS for the quarter remained at INR1.19.
The Company declared consolidated revenues of USD44.4 million for Q3FY14, compared to USD46.26 million in Q2FY14 and USD46.31 million in Q3FY13. This softening in revenues accompanied by a FOREX loss due to forward covers and subsidiary revaluations, had an impact on the margins of the Company. The Profit after Tax (PAT) stood at INR75.27 million, as against USD165.66 million and USD190.96 million in the previous quarter and the corresponding quarter last year, respectively.
Manu Parpia, Managing Director & CEO, Geometric, said, “As anticipated, the unfortunate effect of the holiday period, combined with a decline in revenues from a large US-based customer, had an adverse impact on us this quarter. I am pleased to confirm that, going forward, we will resume our path to growth. We see a revival in demand and have seen an increase in the pipeline for the second successive quarter.”
During the quarter, the Company has signed new deals worth USD9.25 million. Among other business highlights for the quarter, the Company appointed Nitin Tappe as COO, and John Leney as Global Sales Head (Farming), with effect from January 1, 2014. Geometric also launched version 2014 of our leading CAM solution, CAMWorks.
