Onward Technologies Limited Reports Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017
January 23, 2018 at 05:08 am EST
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Onward Technologies Limited reported unaudited consolidated and standalone earnings results for the third quarter and nine months ended December 31, 2017. For the third quarter on consolidated basis, the company reported revenue from operations of INR 580.097 million compared with INR 549.568 million for the same period last year. Total income was INR 593.320 million compared with INR 565.245 million for the same period last year. Profit before tax was INR 4.093 million compared with INR 27.617 million for the same period last year. Net profit attributable to owners was INR 5.038 million or INR 0.30 per diluted share compared with INR 21.492 million or INR 1.32 per diluted share for the same period last year. Net profit attributable to owners was INR 5.038 million compared with INR 21.492 million for the same period last year. EBITDA was INR 26.4 million compared with INR 45.4 million for the same period last year.
For the nine months on consolidated basis, the company reported revenue from operations of INR 1,824.203 million compared with INR 1,653.702 million for the same period last year. Total income was INR 1,849.802 million compared with INR 1,671.976 million for the same period last year. Profit before tax was INR 73.495 million compared with INR 49.900 million for the same period last year. Net profit attributable to owners was INR 55.647 million or INR 3.37 per diluted share compared with INR 34.134 million or INR 2.11 per diluted share for the same period last year. Net profit attributable to owners was INR 55.647 million compared with INR 34.134 million for the same period last year. Consolidated EPS recorded at INR 3.62.
For the quarter on standalone basis, reported revenue from operations of INR 252.002 million compared with INR 237.408 million for the same period last year. Total income was INR 265.170 million compared with INR 250.699 million for the same period last year. Profit before tax was INR 1.780 million compared with INR 14.568 million for the same period last year. Net profit for the period was INR 1.202 million or INR 0.07 per diluted share compared with INR 8.900 million or INR 0.54 per diluted share for the same period last year.
For the nine months on standalone basis, reported revenue from operations of INR 801.095 million compared with INR 704.253 million for the same period last year. Total income was INR 822.518 million compared with INR 748.194 million for the same period last year. Profit before tax was INR 26.852 million compared with INR 49.352 million for the same period last year. Net profit for the period was INR 19.696 million or INR 1.19 per diluted share compared with INR 31.698 million or INR 1.96 per diluted share for the same period last year.
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 Reports Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017