Navi Mumbai 8 July 2016
8K Miles Software Services, Ltd., a leading secure cloud solutions and managed services provider, today announced the Company’s unaudited financial results for the quarter ended June 30, 2016 as approved by the Board of Directors.
“As a trusted partner for our customers in their Cloud Transformation journey, we understood very quickly and early that: ”Cloud is not the Goal: The Goal is more value to customers”; It’s about Next-generation IT Process Automation and Orchestration; How Enterprise IT can offer Cloud as a Service internally with set of foundational services in an automated Self Service agile fashion with Security, Governance, Cost Optimization and Compliance.” said Mr. Suresh Venkatachari, Chairman and Managing Director, 8K Miles Software Services, Ltd.
“We had envisioned the bifurcation of IT and that many will fail in their Cloud initiative because:
- Failure to adopt new technologies and Lack of Innovation
- And relying on existing traditional IT model or vendors to solve next-generation challenges
With that in mind, we took a step back very early and revisited our strategy, embarked on a series of very well thought of acquisitions with complete focus on Pharmaceuticals, Life-Sciences, Bio-Tech and Healthcare verticals.” said Mr. Lena Kannappan, COO, 8K Miles Software Services.
Consolidated Financial Highlights for the Quarter ended June 30, 2016:
Particulars
|
Q1 FY 17
|
Q-o-Q growth
|
Y-o-Y growth
|
Revenue (INR Lakhs)
|
10389
|
20%
|
105%
|
EBITDA (INR Lakhs)
|
3678
|
40%
|
132%
|
PBT (INR Lakhs)
|
3112
|
50%
|
153%
|
PAT (INR Lakhs) before minority interest
|
2415
|
48%
|
150%
|
PAT (INR Lakhs) after minority interest
|
1933
|
57%
|
168%
|
Earnings Per Share
|
16.89
|
57%
|
167%
|
Key Quarter Highlights:
- Became a Microsoft CSP partner in Canada.
- Became an IBM partner in Canada.
- Increased AWS certifications across the board by adding more certified AWS solution architects and certified AWS developers.
- Started extending our services to insurance / healthcare payor sector. The opportunity includes project management and consulting for developing high-valued payor strategy and unique risk-sharing-model offered by a prominent cancer treatment hospital in LA area.
- Signed agreements with 4 new healthcare partners to enhance our clientele and healthcare professional services business.
- Expanding our EHR expertise from existing EHR vendors to others like Allscripts.
- Engaged on an enterprise wide IT Transformation for the Cloud and critical HIPAA compliant workload migration to the Cloud for a new large pharmaceutical customer.
- Won Pharma Validation Service project with a major customer based in San Francisco
- 8K Miles is delivering Identity Access Governance as a Service to a large Bank.
· Appointed team of highly credible strategic business advisors: Suja Chandrasekaran, Global Chief Technology Officer Kimberly-Clark and former Global Chief Technology Officer and Chief Data Officer of Walmart Stores, Inc.; Honorable Dr. Rajan Natarajan, Former Deputy Secretary of State, Maryland USA; John Cuny, President and CEO, World Class Health Enterprises, Inc. to enhance Company’s access to previously untapped business opportunities and innovations.
About 8K Miles:
8K Miles Software Services is a global Cloud, SaaS & Security Solutions company based in the San Francisco Bay area and a publicly traded company listed on Indian Stock Exchanges (NSE and BSE). 8KMiles Software Services provides digital technology solutions – SMAC (Social, Mobile, Analytics and Cloud) for seamless connectivity between consumers, SMBs, large enterprises, healthcare providers and pharmaceutical companies secured with EzIAM™ SaaS offering, CloudEzRx™ solution for cloud automation and our patented MISP™ platform for onboarding and accelerated Business Partner federations.