Scandent Announces Financial Results for Dec-05 Qtr

Revenues of INR 844 Million, Up 6% over Previous Quarter, Up 20% year-on-year YoY
Operating Income of INR 139 Million, Up 1% over Previous Quarter, Up 37% YoY
Profit After Taxes of INR 85 Million, Up 1% over Previous Quarter, Up 5% YoY

Bangalore, India – January 30, 2006: Scandent Solutions Corporation Limited (“Scandent”) announced today its results for the Dec' 05 quarter. Total revenues for the quarter were INR 844 M compared to total revenues of INR 798 M for the previous quarter, a growth of 6 %. The growth in revenue over the corresponding period previous financial year was 20%.

Operating Income was INR 139 M up by 1 %, compared to an operating income of INR 138 M for the previous quarter. The growth in operating income over the corresponding period previous financial year was 37%. For the quarter ended Dec 30 th, 2005 total earnings after taxes were INR 85 M compared to INR 85 M for the previous quarter, an increase of 1%. The growth in net profit over the corresponding period previous financial year was 5%.

The company's earnings per share on a fully diluted basis for the quarter were Rs. 2.90.

This is the sixth quarter of sequential growth in revenues and operating income after the company consummated its merger with the IT division of SSI Limited.

The company's three core verticals, Banking, Financial Services and Insurance (BFSI), Government and Manufacturing & Logistics, contributed 25%, 21% and 54% of the Dec'05 quarter revenues respectively. The US operations of the company contributed 70% of the total revenues with its Asia Pacific operations at 14% and Europe at 16%.

The company has been successful in increasing its operating margins on a sustained basis over the last 6 quarters. The operating margins have improved from 14% in Dec 04 to 16 % in Dec 05.

The company added 18 new clients during this quarter and the number of clients with an annual revenue run rate tracking at greater than $1 million increased to 16 from 15 in the previous quarter.

Conference Call
A conference call with the analysts has been scheduled at 5 PM on Tuesday, 31 January, 2006 to discuss the quarter's results. The details of conference call would be intimated in due course.

About Scandent Solutions Corporation Ltd (“Scandent”)
Scandent is a broad based IT services company that offers business consulting, application implementation, software engineering, maintenance and support services. It is promoted by Scandent Group, which has in its fold IT and BPO companies that collectively employ 3,500 professionals serving customers in 3 continents through 70 locations worldwide. Scandent strives to deliver differentiated solutions with impeccable quality. The services of the firm include strategy, application implementation, software engineering and support solutions. For more information about Scandent, visit www.scandentsolutions.com.

Back to Press Releases