Financial Technologies' net soars 212% to Rs 117 crore

Financial Technologies (India), global leader in offering technology solutions to financial markets today said that its standalone total income from operations for the quarter ended December 31, 2011 increased by 38 percent to Rs 112.1 crore as compared to Rs 81.4 crore for quarter ended December 31, 2010.

Its EBIDTA, excluding profit on sale of shares and diminution in long term investments for the quarter ended December 31, 2011 increased by 223 percent to Rs 151.2 crore as compared to Rs 46.8 crore for quarter ended December 31, 2010.

According to a company statement, net profit excluding profit on sale of shares and diminution in long term investments for the quarter ended December 31, 2011 increased by 212 percent to Rs 117.9 crore as compared to Rs 37.8 crore for quarter ended December 31, 2010

The board declared third interim dividend of 100 percent on the face value of Rs 2 per share, the release said.

On standalone basis, total income from operations for the nine months ended December 31, 2011 increased by 15 percent to Rs 303.8 crore as compared to Rs 264.2 crore for the nine months ended December 31, 2010. Net profit excluding profit on sale of shares and diminution in long term investments for the nine months ended December 31, 2011 increased by 48 percent to Rs 226.3 crore as compared to Rs 152.7 crore for the nine months ended December 31, 2010

Commenting on the performance, Whole Time Director Dewang Neralla said, "During this quarter, we repaid zero-coupon convertible bonds (ZCCBs) aggregating USD 133.16 million including premium thereon. This demonstrates our commitment to the investors."

This quarter too, we continued with our leadership position across asset classes we serve. MCX had 87%, IEX had 92% and NSEL had over 99% market share in their respective asset classes. On the international exchanges front, SMX witnessed average daily turnover of USD 561 million and GBOT's average daily turnover was USD 39 million.