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News >> Technology >>
Teledata aims at 
1000 crore revenue, to acquire 3 U.S. companies
By agencies
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Tuesday, 19 April 2005, 19:30 IST
CHENNAI:Software products and services firm Teledata Informatics Ltd today reported a 957 percent rise in revenues for the quarter ended March 2005 and announced plans for three acquisitions in the U.S. this quarter and a listing on the Nasdaq stock exchange during next financial year.
The company has also projected a turnover of 
1000 crore for this financial year, compared to 345.32 crore in the year ended March 31, 2005.
Teledatas net profit for the fourth quarter stood at 37.02 crore, compared to 62.29 lakhs in the same quarter last year, said K Padmanabhan, Director, Teledata Informatics.
He said the total sales during the quarter touched 144.92 crore, a growth of 957 percent from 13.71 crore in the same quarter last financial year.
On the future plans, Padmanabhan said Teledata has short listed three companies in the United States for acquisitions. The acquisitions, which would be completed during this quarter, are valued at over $40 million.
The company had recently raised $54 million through Global Depository Receipts (GDR) issue to fund the acquisitions. "We will complete the acquisitions this quarter," he said.
Padmanabhan said Teledata was also planning an American Depository Receipts (ADR) issue in next fiscal for listing its shares on the Nasdaq stock exchange. On the expansion front, Teledata, which employs 600 people globally, would grow to 1,400 people during this financial year, Padmanabhan said.
In 2004-05, he said the company acquired four firms during the last financial year for a total of $14 million. The companies are Bitech International, Dubai (100 percent), Bitech International Pte, Singapore (51 percent), Insoft Systems Pte, Singapore (100 percent) and Transworld (52.67 percent).
He said the company was acquiring firms for getting more clients and reach out to more markets. During the last financial year, the companys ship management software contributed 40 percent of the revenues, while the education software was able to attract 35 percent of the revenues. The software products for utilities contributed to 25 percent.
Padmanabhan said this year; the revenues by the educational software would contribute more to the topline.
1000 crore for this financial year, compared to 345.32 crore in the year ended March 31, 2005.
Teledatas net profit for the fourth quarter stood at 37.02 crore, compared to 62.29 lakhs in the same quarter last year, said K Padmanabhan, Director, Teledata Informatics.
He said the total sales during the quarter touched 144.92 crore, a growth of 957 percent from 13.71 crore in the same quarter last financial year.
On the future plans, Padmanabhan said Teledata has short listed three companies in the United States for acquisitions. The acquisitions, which would be completed during this quarter, are valued at over $40 million.
The company had recently raised $54 million through Global Depository Receipts (GDR) issue to fund the acquisitions. "We will complete the acquisitions this quarter," he said.
Padmanabhan said Teledata was also planning an American Depository Receipts (ADR) issue in next fiscal for listing its shares on the Nasdaq stock exchange. On the expansion front, Teledata, which employs 600 people globally, would grow to 1,400 people during this financial year, Padmanabhan said.
In 2004-05, he said the company acquired four firms during the last financial year for a total of $14 million. The companies are Bitech International, Dubai (100 percent), Bitech International Pte, Singapore (51 percent), Insoft Systems Pte, Singapore (100 percent) and Transworld (52.67 percent).
He said the company was acquiring firms for getting more clients and reach out to more markets. During the last financial year, the companys ship management software contributed 40 percent of the revenues, while the education software was able to attract 35 percent of the revenues. The software products for utilities contributed to 25 percent.
Padmanabhan said this year; the revenues by the educational software would contribute more to the topline.