Mumbai, 24 May 2017: AGC Networks Limited, (BSE: 500463 and NSE: AGCNET), a Global Solution Integrator announced audited financial results for fourth quarter and year ended March 31, 2017.
Consolidated Financial Highlights for the Quarter ended 31st March 2017
Rupees in Crores
|Particulars||FY 16-17||FY 15-16||% Change
( FY 15-16)
Both Q4 FY17 and FY17 have shown significant improvement in both EBIDTA and PAT over the previous financial periods in FY16. This is reflective of the various initiatives to strengthen the organization through a focused approach to customers and working in close coordination with Global leading OEMs (Original Equipment Manufacturers) in the technology space.
Speaking on the announcement of the FY17 financial results, Sanjeev Verma, Whole-time Director, AGC Networks said “AGC’s global business is geared to cater to the evolving digitization opportunities around. With the India market aligning closer to global technology standards; AGC’s role in delivering evolved ICT solutions and services to our customers is gaining momentum here. Overall, keeping customers ahead of the curve and securing their IT environment are AGC’s largest focus areas globally across the nine countries (in five continents) that we are present in.”
Angshu Sengupta, Chief Financial Officer, AGC Networks said “Compliance continues to be the core of our operations. Further, tight monitoring of the processes has ensured that costs have reduced significantly and we will continue to be watchful in aligning spends to business specific opportunities. With these measures, working capital availability will ensure smoother and quicker turn around for business operations delivering value to customers. Interest cost reduction continues to be our priority area by rationalizing borrowings.”
Atul Khatavkar, President and Global Head, CYBER-i says “Our team of Cyber Security experts receive global threat intelligence on a 24*7 basis and are continuously monitoring these threats to forewarn and prepare customers. Our recent win from a leading African bank on remote monitoring through state-of-the-art Global Security Operations Center (G-SoC) from Mumbai, India is an important win reflecting our global delivery model. We continue to be thought leaders in the Cyber Security space.”
Atul has also been an active member of the US-India Track 1.5 Cyber Dialogue that represents a pivotal moment in conversations relating to the growth of India’s digital economy.
Jayantha Prabhu, Head of India business said “Gartner predicts the total IT spending in India to reach $72.4 Bn in 2017. This is a huge opportunity on the horizon for AGC Networks. AGC’s role as an innovative and seamless support provider has enabled AGC to be the customer’s preferred partner of choice. We believe in continuing to deliver and safeguard the customer’s IT landscape and providing them with next generation digital transformation platforms. This is an important step in working towards re-building relationships. I am confident that AGC will benefit greatly from the revival of the India business”.
- APAC CIO Outlook ranks CYBER-i, the Cyber Security business of AGC Networks in the Top 25 Security companies of the year
- AGC Networks MEA wins ‘Emerging Integrator of the Year’ at ICT Champions Award
- AGC Networks MEA wins special recognition award from Extreme Networks
About AGC Networks:
AGC Networks (AGC) is a Global Solution Integrator representing the world’s best brands in Unified Communications, Network Infrastructure & Data Center, 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.
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, Dark Trace, Cisco, HP, Juniper, Shoretel, Verint and Polycom 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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