Four Soft Q1 results shows 460 percent net profit increase
Hyderabad: Four Soft, a global provider of software solutions for Logistics and Transportation, today released its financial results for the first quarter of FY 2010-11 indicating 460 percent net profit increase.
The highlights of the Q1 results includes PAT going up 460 percent to 
2.7 crore against 0.48 crore in Q1 FY10. Revenues were noted to be at 29.39 crore, as against 35.70 crore in Q1 FY10. This is largely impacted due to appreciation of rupee against major European currencies and U.S. Dollar. EBITDA recovered in the Q1 and stands at 3.06 crore, translating into an EBITDA margin of 10 per cent. Four Soft's EPS rose to 0.70 (not annualized). In the first quarter, the company won nine landmarks deals, which is expected to bring in more earnings in the upcoming quarter. Four Soft now extended its portfolio by offering BPO arm to their clients. The employee strength rose to 614 against 569 at the end of Q1FY10.
Rajshekhar Roy, Chief Executive Officer, commenting on the results, said "as compared to previous year, where the company's bottom line was affected due to adverse market conditions, this has been an encouraging quarter for Four Soft. The global logistics industry, market dynamics and the environment in which our business operates has improved significantly, thus contributing to our overall growth." He further added "we attribute the success of this robust pipeline, to our game-changing focus of improving process efficiencies, enabling real time delivery capabilities, re-engineering applications, enhancing productivity and improved customer management."
Speaking on the future plans, he said "our near team goal is to harness sales growth through our products which represent the intellectual capital that we have built up over the years. The company is also targeting to create employment opportunities spanning to the entire year."
In the freight forwarding end, the company is supporting 17 of the world's largest 25 freight forwarders. Four Soft's systems are used to move more than 20 percent of global freight volumes. As a long-term growth strategy, the company plans to grow to $100 million by 2013. The expansion focus would be Latin America and Europe.
2.7 crore against 0.48 crore in Q1 FY10. Revenues were noted to be at 29.39 crore, as against 35.70 crore in Q1 FY10. This is largely impacted due to appreciation of rupee against major European currencies and U.S. Dollar. EBITDA recovered in the Q1 and stands at 3.06 crore, translating into an EBITDA margin of 10 per cent. Four Soft's EPS rose to 0.70 (not annualized). In the first quarter, the company won nine landmarks deals, which is expected to bring in more earnings in the upcoming quarter. Four Soft now extended its portfolio by offering BPO arm to their clients. The employee strength rose to 614 against 569 at the end of Q1FY10.
Rajshekhar Roy, Chief Executive Officer, commenting on the results, said "as compared to previous year, where the company's bottom line was affected due to adverse market conditions, this has been an encouraging quarter for Four Soft. The global logistics industry, market dynamics and the environment in which our business operates has improved significantly, thus contributing to our overall growth." He further added "we attribute the success of this robust pipeline, to our game-changing focus of improving process efficiencies, enabling real time delivery capabilities, re-engineering applications, enhancing productivity and improved customer management."
Speaking on the future plans, he said "our near team goal is to harness sales growth through our products which represent the intellectual capital that we have built up over the years. The company is also targeting to create employment opportunities spanning to the entire year."
In the freight forwarding end, the company is supporting 17 of the world's largest 25 freight forwarders. Four Soft's systems are used to move more than 20 percent of global freight volumes. As a long-term growth strategy, the company plans to grow to $100 million by 2013. The expansion focus would be Latin America and Europe.