Helios & Matheson net profit up 89% | india | Hindustan Times
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Helios & Matheson net profit up 89%

The healthcare focused IT services organisation has earned an income of Rs 56.56 crore for the third quarter ended December 31, 2005.

india Updated: Jan 19, 2006 18:50 IST

Helios & Matheson Information Technology, leading healthcare focused IT services organisation, Thursday announced financial results for its third quarter and nine months ended December 31, 2005.

Income was Rs 56.56 crore for the third quarter ended December 31, 2005, an increase of 73 per cent over the corresponding quarter in the previous year.

Operating profit was Rs 14.64 crore vis-à-vis Rs 9.06 crore for Q3 FY 2005, representing a YoY growth of 61.6per cent and sequential growth of 7.25 per cent.

Net Profit grew YoY to Rs 10.14 crore vis-à-vis Rs 5.35 crore, an increase of 89.44 per cent.

Earnings per share (annualised) was Rs 20.26 (adjusted for the 1:1 bonus issue of shares distributed on November 7, 2005) compared to Rs 21.39 (annualised) for the corresponding quarter in the previous year.

Results for the nine months ended December 31, 2005

Income for nine months ended December 31, 2005 was Rs 159.03 crore, an increase of 85.23 per cent over the corresponding period in the previous year.

Operating profit for nine months ended December 31, 2005 increased to Rs 40.38 crore from Rs 22.80 crore for the corresponding period in the previous year, an increase of 77.1 per cent.

Net profit after tax for nine months ended December 31, 2005 was Rs 26.85 crore vis-à-vis Rs 12.59 crore for nine months ended December 31, 2004.

"We are seeing strong traction in the IT spend of our top 10 clients, especially those in the healthcare space. Our value proposition to clients remains strongly differentiated despite the increasing presence of global competitors. We continue to focus on scalability and differentiation, which are key to rapid growth and delivery of higher value to customers" said V Ramachandiran, Chairman.