Onward Technologies Limited Announces Unaudited Consolidated and Standalone Earnings Results for the Second Quarter and Six Months Ended September 30, 2016
October 21, 2016 at 07:51 am EDT
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Onward Technologies Limited announced unaudited consolidated and standalone earnings results for the second quarter and six months ended September 30, 2016. For the quarter, on consolidated basis, the company reported net sales/income from operations of INR 571.678 million against INR 505.65 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 21.309 million against INR 28.307 million a year ago. Profit from ordinary activities before tax was INR 15.474 million against INR 19.809 million a year ago. Net profit from ordinary activities after tax was INR 14.808 million against INR 19.323 million a year ago. Diluted earnings per share were INR 0.92 against INR 1.24 a year ago. EBITDA posted at INR 32.9 million.
For six months ended September 30, 2016, on consolidated basis, the company reported net sales/income from operations of INR 1,102.456 million against INR 981.162 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 39.200 million against INR 57.121 million a year ago. Profit from ordinary activities before tax was INR 28.560 million against INR 44.259 million a year ago. Net profit from ordinary activities after tax was INR 27.222 million against INR 43.348 million a year ago. Diluted earnings per share were INR 1.68 against INR 2.79 a year ago.
For the quarter, on standalone basis, the company reported net sales/income from operations of INR 245.131 million against INR 238.572 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 3.126 million against INR 2.0363 million a year ago. Profit from ordinary activities before tax was INR 22.9 million against INR 18.813 million a year ago. Net profit from ordinary activities after tax was INR 17.938 million against INR 16.109 million a year ago. Diluted earnings per share were INR 1.11 against INR 1.03 a year ago.
For six months ended September 30, 2016, on standalone basis, the company reported net sales/income from operations of INR 465.167 million against INR 458.472 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 16.557 million against INR 42.675 million a year ago. Profit from ordinary activities before tax was INR 30.432 million against INR 34.846 million a year ago. Net profit from ordinary activities after tax was INR 30.432 million against INR 34.846 million a year ago. Diluted earnings per share were INR 1.88 against INR 2.24 a year ago.
Onward Technologies Limited is an India-based software outsourcing company specializing in digital, and engineering research and development (ER&D) services. The Company is focused on three verticals: transportation and mobility, industrial equipment and heavy machinery, and healthcare and medical technology (MedTech). Its service lines include digital services, mechanical engineering services, embedded and electronics engineering services, and information technology services. Its digital services include engineering automation, big data analytics, cloud and DevOps, artificial intelligence/machine learning, and digital with virtual reality/augmented reality. Its mechanical engineering services include new product design and development, and value engineering. Its embedded and electronics engineering services include platform services hardware, software and connectivity solutions. Its information technology services include enterprise applications, and data management and reporting.
Onward Technologies Limited Announces Unaudited Consolidated and Standalone Earnings Results for the Second Quarter and Six Months Ended September 30, 2016