AGC Networks Announces Q1 FY20 Financial Results - Essar | Creating Value

AGC Networks Announces Q1 FY20 Financial Results

Aug 14th, 2019

Mumbai, 14 August 2019: AGC Networks Limited, (BSE: 500463 and NSE: AGCNET), today announced financial results for first quarter ended 30 June, 2019.

Consolidated Financial Highlights for the Quarter-ended 30 June, 2019                   INR crores

Particulars        Q1 

(FY 19-20)

       Q1

( FY 18-19)*

       Q4

(FY 18-19)

Revenue

1227.87

188.31

1233.02

EBIDTA (Before Exceptional items & before impact of Ind AS 116)

52.27

8.61

12.03

EBIDTA (Before Exceptional items & after impact of Ind AS 116)

72.95

PBT

15.53

6.28

(100.28)

PAT

13.56

5.78

(98.02)

Adjusted PAT (Before Exceptional items)

18.22

3.12

(20.73)

* Q1 FY19 figures do not include results of Black Box Corporation & its subsidiaries and COPC Holdings Inc. and   its subsidiaries that were  acquired in January 2019

Strategic Highlight 

  • AGC’s wholly owned subsidiary, on 07 January 2019, completed the acquisition of Black Box Corporation (erstwhile NASDAQ: BBOX), a leading digital solutions provider in US. The combination with Black Box has substantially increased AGC’s presence and offerings in 30+ countries and specifically in North America and Europe.

 Speaking on the announcement of the financial results, Sanjeev Verma, Whole Time Director, AGC Networks and President & CEO of Black Box Corporation, said “The consolidation of Black Box Corporation is gaining momentum and the Black Box engine is beginning to show results.  The combined entity is aggregating its global presence in 30+ countries and serving customers across North America, Latin America, Europe, India & SAARC, APAC and MEA.” 

Deepak Kumar BansalChief Financial Officer, AGC Networks and Black Box Corporation said “Increased operational efficiencies and cost optimization measures taken in Black Box and it’s continued integration with AGC has started yielding results.”

Business Highlights 

Some major wins include,

  • A major multi-year Managed Services contract from the largest private telecom company in the US
  • Deployed an advanced contact center solution including omni-channel expansion, upgrade and renewal for a large North American global security services company
  • AGC’s Global Advanced Solutions Architect provided for an American department store chain
  • A multi-year contact centre consolidation project win from a major logistics company in India
  • A cloud based collaboration solution and multi-year maintenance contract delivered for an Indian multinational steel-making company
  • A global IP communications, solutions & services contract from a major operations management and analytics company leveraging on AGC’s multi-geography presence

The Company continues to receive awards and recognitions from global technology partners.

***

About AGC Networks:

AGC Networks (AGC) is a Global Solution Integrator representing the world’s best brands in Unified Communications, Data Center & Edge IT, Cyber Security (CYBER-i) and Digital Transformation & Applications to evolve the customer’s digital landscape.  AGC’s ability to tailor solutions across quadrants is strengthened through delivery of seamless customer support services.

AGC is the customer’s trusted go-to technology solution integrator to architect, deploy, manage and secure their IT environment through customized solutions and services that accelerate their business.

A leader in Enterprise Communications in India, AGC has significant presence across North America, Latin America, Middle East & Africa, Europe, Singapore, Australia, New Zealand and Philippines serving customers globally in 30+ countries.

In collaboration with global technology leaders like Avaya, McAfee, Palo Alto, Cisco, HPE, Trend Micro, Juniper, Nutanix, NICE, Verint, Poly, Genesys and Mitel among others, AGC delivers domain-focused, flexible and customized technology solutions and seamless services that accelerate customers’ business and ensures Return on Technology Investments (ROTI).  AGC Networks is an Essar Enterprise. For more information log on to www.agcnetworks.com

Media Contacts: Neelam Kapoor   Tel: +91 98197 30611   E-mail: neelam.kapoor@agcnetworks.com