Geometric signs deal worth US$5.51 Million in Q1 FY2013

Geometric has announced its Q1 financial results for FY 2013-14. The results declared by the company include consolidated revenues of INR2,602.75 million with Q-o-Q increase of 5.3%.  Geometric’s revenue at the end of the corresponding quarter last year stood at INR2,608.20 million. EPS for the quarter is INR2.44. The operating profit for the quarter rose 55.7% Q-o-Q to INR372.88 million compared to INR239.53 million in the previous quarter.

Manu Parpia, MD & CEO, Geometric, said, Our new organization structure consisting of six verticals, each with P&L responsibility, came into effect this quarter. I believe this will have a strong positive impact on the performance of our organization as we go forward. While most of our verticals performed in line with our outlook, the industrial vertical which comprises of businesses like mining, agricultural and construction equipment experienced unexpected softness. We anticipate this weakness to continue till the end of this calendar year.

At the end of the quarter, the company had 86 active customers, and signed new deals worth US$5.51 million during this quarter.

The reduction in attrition rate to 11% this quarter is due to strong employee engagement focus.