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Financial Technologies revenues up by 62 percent for FY2006-07
By siliconindia
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Tuesday, 03 July 2007, 19:30 IST
Bangalore: Financial Technologies, a technology solutions provider for equity, commodity, debt and forex markets has recorded a 62 percent increase in revenues in the fiscal year 2006-07,while its PAT ramped up by 116 percent on a stand alone basis, according to the audited results of the company.
Commenting on Financial Technologies' FY 2006-07 performance, Dewang Neralla, Whole-time Director, Financial Technologies, said, "We expect to continue to grow exponentially year-on-year driven by our IP-centric business model and technology domain expertise which has delivered another high growth year for us. Our revenue has grown annually at 81 percent."
Compared to Q4 FY06, in Q4 FY 07, the consolidated total income rose 69 percent to Rs108.4 crore while PAT stood at Rs18 crore.
The company has consolidated and progressed on all business fronts with flagship product ODIN TM capturing 90 percent estimated market share, a growth of 76 percent in the license base in equity markets, and a growth of 146 percent in the commodities market.
The company had also launched two new ventures this year?TickerPlant Infovending Ltd. (TickerPlant) and Safal National Exchange (SNX) for fruits and vegetables which is a 49:51 JV with National Dairy Devolopment Board (NDDB).