Genpact reports Results for Q2 2012

Genpact Limited has announced financial results for the second quarter ended June 30, 2012.  Genpact also announced that it expects to pay a special cash dividend to all shareholders of $2.24 per common share, or approximately $500 million in total.

 

Revenues were $467.6 million, up 17.6% from $397.6 million in the second quarter of 2011, primarily driven by growth in revenues from Global Clients. Business process management and technology services revenues from Global Clients were up 19.8% and 38.4% respectively.

 

Net income attributable to Genpact Limited shareholders was $61.1million, up 56.6% from $39.0 million in the second quarter of 2011; net income margin for the second quarter of 2012 was 13.1%, up from 9.8% in the second quarter of 2011.

 

Diluted earnings per common share were $0.27, up 55.4% from $0.17 in the second quarter of 2011. Adjusted income from operations was $77.8 million, up 19.2% from $65.3 million in the second quarter of 2011. Adjusted income from operations margin was 16.6%, up from 16.4% in the second quarter of 2011. Adjusted diluted earnings per share were $0.32, up 46.0% from $0.22 in the second quarter of 2011.

 

N.V. “Tiger” Tyagarajan, President &CEO, Genpact said, “Genpact had another great quarter, with strong growth in revenues, adjusted operating income, net income and EPS.  In addition to the 17.6% year-over-year revenue growth, our revenues grew 7.4% sequentially. Revenue growth was broad based across all our geographies, including Europe, and all major service lines including finance and accounting.   We established 35 new client relationships this quarter across all major industry groups, up from 26 in the second quarter of 2011. Our results continue the momentum we have had since the beginning of 2011.”

Strong volume drives Q1 Revenue growth

Strong volume drives Q1 Revenue growth 

Mahindra Satyam has announced its unaudited consolidated financial results under Indian GAAP for the first quarter ended June 30, 2012. Consolidated Revenues is at Rs. 1880 crore, up 31% YoY. EBITDA is at Rs. 408 crore, margins at 21.7%, up by 417 bps QoQ. PAT at Rs. 352 crore, as compared to Rs. 225 crore in the previous year. EPS was Rs 2.99 per share in Q1.

 

Vineet Nayyar, Chairman, Mahindra Satyam, said, “With this quarter, we have successfully ended our 3-year transformational journey, recording progress on the back of strong fundamentals, focus and investments. Global business realities continue to be unpredictable. However we are confident of taking forward our momentum.”

 

CP Gurnani, CEO, Mahindra Satyam, said, “We compete in the marketplace today with investments in services, markets and our differentiators. Our plans to convert some of these bullets into cannonballs are a reflection of our performance this quarter.”

Polycom’s Revenues grew 4 Per Cent Y-o-Y

Polycom's Revenues grew 4 Per Cent Y-o-Y

Polycom has reported its financial results for the second quarter ending June 30, 2012.  Total combined revenues were $379 million, including revenues from the company’s Enterprise Wireless Solutions (EWS) business of $21 million. Polycom has announced plans to divest the EWS business in order to focus its product and technology portfolio on core unified communications and video collaboration solutions.

 

The second quarter 2012 consolidated net revenues from continuing operations were $359 million, up 5 per cent year-over-year as compared to $341 million for the second quarter of 2011. Non-GAAP net income for the second quarter of 2012 was $39 million, or 22 cents per diluted share, compared to non-GAAP net income of $43 million, or 24 cents per diluted share, for the second quarter of 2011. GAAP net income for the second quarter of 2012 was $7 million, or 4 cents per diluted share, compared to $29 million, or 16 cents per diluted share, for the same period last year. The share and per share data for all periods presented in this release have been adjusted to reflect the two-for-one stock split that was effective July 1, 2011 and the classification of Polycom’s EWS business as discontinued operations.

 

“Demand for our best-in-class UC solutions was solid in Q2, which allowed us to exceed both revenue and earnings expectations. In the second half of this year, we will be launching a series of products that we believe will be game-changing and will allow us to expand our addressable market and extend our advantages versus the competition,” said Andrew M. Miller, President & Chief Executive Officer, Polycom.

SAP APJ records Double-digit Software Revenue Growth

SAP APJ records Double-digit Software Revenue Growth

SAP Asia-Pacific Japan (APJ) has announced another record quarterly performance.  The territory’s Q1 2012 results showed a 19% growth year-on-year in Non-IFRS Software Revenue to €123 million (16% at Constant Currencies).

Steve Watts, President, SAP Asia-Pacific Japan, said, “Q1 2012 has been the best first quarter we have ever achieved in APJ – and is our ninth consecutive quarter of double-digit growth for SAP. APJ region stands out as a consistent growth engine in SAP’s global performance. Our key regional markets led the way once more with solid double-digit growth and particularly strong growth in key developing markets.

“Our customers continue to respond positively to our breakthrough innovations in in-memory (HANA), database and mobility.  In Q1 2012, we achieved €28 million in HANA revenue and €21 million in mobile revenue globally – a growth of more than 30% in the first quarter. SAP’s growth strategy is based on customer-centric innovation and our positive results clearly show that our approach is meeting the market’s demands. Our pipelines are strong and we continue to see strong demand for SAP’s innovations for the rest of 2012,” He further added.

Myntra.com targets 500 crores revenue for next fiscal

Myntra.com is aiming revenue of Rs. 500 crores in the financial year 2012- 2013. The company which entered the lifestyle and fashion retailing segment in December 2010 has registered a 10 fold growth in 2011 and is relatively, the fastest growing company in the e-commerce space in India.

 

Mukesh Bansal, Founder & CEO said, “Myntra has undergone phenomenal growth in the last 12 months and has emerged as the clear leader in Fashion/Lifestyle space. We have been consistently doubling every 4 months and have now reached a scale where we ship up to 10,000 products every day. We are planning to cross revenue of Rs 500 crores in FY 12-13 which will further strengthen Myntra’s leadership position in the lifestyle category. This is an exciting category with the total market size projected to be over $100 billion in 5 years with mid single digit portion being online, making this, possibly the largest online category in India.”

 

He further added, “We have built the largest catalog in fashion & lifestyle category with over 200 brands, have very extensive supply-chain capabilities including world-class warehouse in multiple cities and our own logistics network in large cities. We will continue to invest aggressively in our technology platform, supply-chain and the Myntra brand to rapidly scaling the business.”

 

The e-commerce company has received overall funding of $40 million through top-tier Venture Capitalists like Tiger Global, IndoUS, IDG&Accel Partners.

IBM tops India Non-x86 UNIX Server Market in Revenue in Q3 2011

IBM tops India Non-x86 UNIX Server Market in Revenue in Q3 2011

IBM has emerged No. 1 in the India non x86 UNIX server market in revenue terms in the third quarter (Q3) of 2011, according to IDC’s Asia/Pacific Quarterly Enterprise Server Tracker, Q3 2011, released in early December. IBM’s success in the Non-x86 Unix market segment in India was underpinned by strong uptake for Power7 servers.

In addition, IBM’s non x86 UNIX server revenues grew 7.2% based on the performance in the first three quarters of 2011 compared to the same period in 2010, while revenues of all other vendors in the said segment declined during the same period.

“Our leadership in non x86 Server market is a testimony to the fact that we continue to invest for our clients’ success and grow this market. Traction for IBM Power systems cuts across both large enterprises and mid-sized businesses, enabling them to grow and succeed. Clients like Escorts, continue to select IBM Power 7 on AiX over competitive platforms, because of the scalability, ease of management and price-performance ratio that Power Systems offer,” said Viswanath Ramaswamy, Vice President- Power Systems, Systems and Technology Group, IBM India/SA

MACH sets the Scene for Driving 3G Revenue Growth in India

MACH has announced that they will be hosting key representatives from India’s mobile operator community later this month at its exclusive “Insights India” conference. The 3 day event, running from 9th -11th November in Jaipur is designed to help operators explore strategies for driving revenue growth in the new 3G world. The conference is to be opened by Raghunatha Chary, Regional Vice President Sales, MACH India.

 

“Indian operators today face a number of challenges and opportunities. ARPU continues to be pressured in the market, but mobile data offers great scope for new revenue streams. Pre-paid roaming shows enormous potential when fraud and recharge concerns are also addressed. Our aim at Insights India is to explore how operators can best gear their businesses in this transforming mobile world, how they can successfully turn new opportunities into business deals, how they can develop new strategies to meet end-user demand, and how they can generate new sources of revenue and drive revenue growth in the new 3G world,” said Raghunatha Chary, Regional VP, Sales, MACH India.

 

Through presentations, interactive workshops, ‘meet the expert’ sessions and social events, participants will have the opportunity to learn, network and talk to industry experts.