Financial Tech registers 674 per cent growth in income

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Hyderabad, Jun 16 (UNI) Financial Technologies (India) Ltd., India's leading technology solutions provider for equity, commodities, forex and bond markets, today announced that its total income increased by 674 per cent from Rs 1,741 million in FY 2006-07 to Rs 13,475 million in FY 2007-08.

In a statement here, company's Director Dewang Neralla said EBITDA has shot up by 957 per cent to Rs 12,548 million in FY 2007-08. The EBITDA margin has increased to 93 per cent in FY2007-08 as compared to 68 per cent in FY2006-07, he added.

PBT was up by 941 per cent to Rs 12,415 million in FY2007-08 as compared to Rs 1,193 million in FY2006-07 while PAT increased by 855 per cent at Rs 9,613 million in FY 2007-08 as compared to Rs 1,006 million in FY2006-07. Diluted EPS for the year increased to Rs 208.10.

''Our robust business model coupled with high growth both in our exchange ventures and software has given us the pole position to capitalize on the value we build in our ventures. In February this year, NYSE Euronext made its foray into the Indian commodity market by signing a term sheet agreement to acquire five per cent equity stake in MCX.'' ''On the other hand, NBHC, our emerging high growth business, had a stellar performance in FY 2007-08, with a network of more than 3,300 storage facilities spread across many states along with the inclusion of storage facilities under collateral management. This platform has also facilitated funding worth Rs. 4,000 crore, out of which Rs 300 crore funding was facilitated to over 22,000 farmers, making NBHC the only player to provide an end to end solution in warehousing and bulk handling of agri commodities in India,'' he said.

''On our technology business front, we had a healthy year on year license growth of 95 per cent. Today we are proud to have over 860 brokerage houses using our technology,'' Mr Neralla said.

He said ''on the corporate development front, we have set up an Independent Advisory Board under the Chairmanship of Narayanan Vaghul.'' UNI VA GKT 1657

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