AGC Networks Announces Q4 and FY18 Year Ended Financial Results
May 29th, 2018
Mumbai, 29 May 2018: AGC Networks Limited, (BSE: 500463 and NSE: AGCNET), the trusted go-to Technology Integrator announced financial results for fourth quarter and year ended March 31, 2018.
Consolidated Financial Highlights for the Quarter ended 31st March 2018
Rupees in Crores
|Total Comprehensive Income||9.20||2.13||331.9%||14.67||8.28||77.2%|
|EPS Basic (in Rs./ share)||3.23||0.75||5.15||2.91|
|EPS Diluted (in Rs./share)||3.21||0.74||5.11||2.89|
With re-organization and cost optimization initiatives completed, the same is reflective in steady growth of Revenues, Margin and Operating Income over the period of four quarters in FY18. This has been possible due to the various domain-focused initiatives in each theatre to strengthen the organization.
Some wins include,
- A large Contact Center solution delivered in India to a leading US-based custom software development company
- A large Audio-Video deal from a multinational professional services company in India
- An IVR Monitoring and Support Project win from a multinational Emirati based telecommunications services provider
- AGC Networks US has seen a large long-term project win in the Managed Services space with a Fortune 500 American company operating a chain of retail home improvement and appliance stores in the United States, Canada, and Mexico.
- Private Cloud service delivered in New Zealand to a multi-channel retailer
Speaking on the announcement of the FY18 financial results, Sanjeev Verma, Whole-time Director, AGC Networks said “IT Spending in India is expected to reach $87.1 Bn in CY 2018 according to the latest forecast by Gartner, Inc.. This is an opportunity for AGC Networks as an innovative and seamless technology support provider of architecting, deploying, managing and securing the customer’s digital environment through a pool of technological experts. AGC’s customer-centricity in various markets is by delivering next generation Digital transformation platforms and enhanced security solutions. AGC’s focus on growth and de-leveraging continues across each of the geographies showcasing a steady state of progress”.
Deepak Kumar Bansal, Chief Financial Officer, AGC Networks said “We look forward to harness growth in the various global markets that AGC is present in. Our focused approach on cost optimization and margin improvement across geographies have helped us deliver another improved quarter. Continued emphasis on governance and compliance remains firmly in place. ”
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 Middle East, Africa, North America, Singapore, Australia, New Zealand and Philippines serving over 3000 customers.
In collaboration with global technology leaders like Avaya, McAfee, Palo Alto, Cisco, HPE, Trend Micro, Juniper, Nutanix, NICE, Verint, Polycom, 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
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