Net4India Net Profit Up 83% YoY
Noida-based domain name registrar and web hosting provider Net4India's has witnessed a 6.63 per cent fall sequentially and an 83 per cent rise in consolidated net profit annually to Rs 5.49 crore for the quarter ended June 2011.
In the previous quarter the company recorded a net profit of Rs 5.88 crore and it had recorded a net profit of Rs 3 crore in the corresponding quarter last year.
Net revenue (from internet related services) fell 17 per cent from Rs 91.65 crore in the previous quarter to Rs 76 crore. This has risen 55.1 per cent compared to Rs 49 crore in the same quarter in the previous fiscal.
Sales to domestic market in the quarter fell from Rs 87.64 crore in the previous quarter to Rs 72.21 crore while the contribution of sales to overseas market was Rs 3.98 crore, compared to Rs 4.01 crore in the previous quarter.
Consolidated EPS stood at Rs 2.74 compared to Rs 1.63 last fiscal.
Standalone net profit for the company rose to Rs 3.36 crore from Rs 1.74 crore in the corresponding quarter last fiscal. Standalone income rose to Rs 46.59 crore from Rs 27.1 crore. In comparison with the previous quarter, net profit fell 30.5 per cent while revenue fell 21.7 per cent.
Net4, which is listed on the NSE and BSE, has seven Internet data centres and 15 network points of presence across the country. It also has a customer base of over 3 lakh customers. Clients include CNBC TV18, Essar, Godrej, Hutch, ITC, L&T, Lufthansa, NIIT, ONGC, Proctor & Gamble, Reliance, Sahara, SBI, Siemens and TCS. In February, Acacia partners and its associate funds bought 4.6 per cent stake in Net4India for Rs 11 crore ($2.3 million).