Geometric reported a consolidated net profit of Rs 19.2 crore in Q1, up 24.6 percent from Rs 15.4 crore Y-o-Y. On a sequential basis, the net jumped 185.7 percent from Rs 6.72 crore.
We have come off a difficult year and I don't want to give optimistic figures. I am pretty confident that we are on the right track.
Manu Parpia
MD & CEO
Geometric
Also Read: Geometric consolidated Jun '14 sales at Rs 268.85 crore
Even the consolidated revenue grew 3.3 percent to Rs 268.85 crore from Rs 260.27 crore on a year-on-year basis, however, it fell 1.6 percent from Rs 273.36 crore Q-o-Q.
In an interview to CNBC-TV18, Manu Parpia, MD & CEO, Geometric Limited, said the company has guided that they want to match the NASSCOM target (13-15 percent) for the year.
He said one of the reasons for improvement in total margins is the other income, where they done forward cover in the past. "We do not have any old forward covers left. Second, the operational efficiency is coming through and third is the return to growth, which is also having a positive impact," he added.
Below is the transcript of Manu Parpia's interview to CNBC-TV18's Ekta Batra and Anuj Singhal
Anuj: Can you tell us what kind of revenue growth would you see for the rest of the year?
A: We had guided that we want to match the Nasscom target so I see that as our objective so that is the guidance I have given.
Ekta: There has been a significant improvement in your margins this quarter all the way to 17.3 percent versus 10.4 percent. Can you just take us through how sustainable it is and what we could see in terms of a guidance for the remaining part of the fiscal?
A: If you look at one of the reasons for the improvement in total margins is the other income where we had done forward covers in the past so that part has now been stabilized as we don't have any old forward covers left.
The second thing is that I believe operational efficiency that we have been working on is coming through and the third element is return to growth which is also having a positive impact because as you grow you can leverage your G&A, sales and marketing cost.
Ekta: What would be your dollar revenue guidance for the remaining part of the fiscal?
A: We are targeting to be in the range of the Nasscom guidance for the industry. The main thing is that we have come off a very difficult year and I don't want to give optimistic figures. I am pretty confident that we are on the right track. The deal size and the type of deals are improving so I see that as a very positive thing.
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