Accel Frontline's Q1 turnover increases by 21%

By SiliconIndia   |   Friday, 27 July 2007, 07:00 Hrs
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Mumbai: Accel Frontline, a joint venture between the Chennai based Accel and Frontline Technologies, Singapore, has announced its unaudited first quarter results for the period ending 30th June 2007.

For the quarter ended June 30, 2007, the company has posted a consolidated net turnover of 55.41 crores against 42.97 crores during the corresponding quarter of the previous year, registering a growth of 29 percent. The EBIDTA went up by 42 percent to 6.92 crores against 4.88 crores during the corresponding period last year. The Profit Before Tax was up 62 percent at 4.52 crores against 2.79 crores and Profit After Tax improved by 41 percent to 3.04 crores against 2.17 crores for the same period last year.

Announcing the quarterly results, Mr. N. R. Panicker, the Chairman and CEO of the Company said, "We are pleased to report a good quarterly performance on a normally slow first quarter for the domestic IT industry. With our continued focus on IT Infrastructure Management and Enterprise Software Services we are confident that the growth momentum will continue in the coming quarters and will ensure steady growth in turnover and profitability. "

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