Consolidated Q2FY17 Total Income up by 19.75% at Rs. 5.87 crore
Hyderabad, November 12, 2016: Hyderabad based Internet services provider Nettlinx Limited, today declared its financial results for the second quarter and half year ended September 30, 2016.
The company reported Consolidated Net Profit of Rs. 0.95 crore for Q2FY17, up by 46.71%, as compared to Rs. 0.13 crore in the corresponding quarter of last fiscal.
Consolidated Total Income for the quarter ended September 30, 2016 stood at Rs. 5.87 crore, as compared to Rs. 4.90 crore in the same period last year witnessing growth of 19.75%.
Earnings per share (EPS) for the quarter ended Q2FY17 stood at Rs. 0.83, as compared with Rs. 0.01 for the quarter ended Q2FY16.
For H1FY17
For the half year period ended September 30, 2016, consolidated net profit for Nettlinx stood at Rs. 5.54 crore.Total Income for H1FY17 stood at Rs. 16.63 crore, as compared to Rs. 8.26 crore during H1FY16. NETTLINX’s EBITDA in H1FY17 stood at Rs. 5.54 crore, as compared to Rs. 0.49 crore during H1FY16.
For H1FY17, EPS stood at Rs. 4.84 as against Rs. 0.43 in H1FY16.
Commenting on the financial performance of the company Dr. Manohar Loka Reddy, Chairman, Nettlinx Limited, said, “Nettlinx has invested substantially in world-class facilities and we are fully attuned to the exponential growth of the internet sector. Towards this, we will continue to bring high tech practices in future as well, towards continuing to shape ourselves as leaders and enabling our states to emerge as global hubs. Given our operational excellence and robust performance, we look forward to the future with confidence.”
Developments During Q2FY17
Nettlinx set to acquire 95 % of Salion SE of Germany
Salion SE is an asset management company based out of Berlin, Germany. The Corporation manages more than Euro 1.70 Million investments. It has a specialized team which advises on M&A and financing of M&A transactions.
Netllinx is investing Half a Million Euros into Salion SE. This strategic investment will help Nettlinx build a war chest for future acquisitions of High tech companies in the industrial space in Germany.
The Company derives advantage through this route on account of extended leverage it gets in a low interest country where in the current interest rates are lesser than 2% PA against the interest rates prevailing in India which hover around 11% PA.
Salion SE has excellent credit rating and presently can leverage this investment to the tune of around Euro 20 Million. For overseeing this new project, Mr. Abraham Joy will be on the supervisory board of Salion SE to take care of the overall operations along with his team.
Corporate Comm India(CCI Newswire)
