Chennai, India - November 07, 2016
8K Miles Q2 Gross Revenue grew 100% YoY and 18% QoQ
EBITDA up by 101% YoY and 15% QoQ
8K Miles Software Services, Ltd., a leading Global IT Business Transformation, Secure Cloud Solutions and Managed Services Provider, today announced the Company’s unaudited financial results for the quarter ended 30th September, 2016 as approved by the Board of Directors.
Highlights of the Results :
· Gross Revenues grew to 122 crores, an increase of 100% YoY.
· EBITDA grew to 42 crores, an increase of 101% YoY
· Net profit after minority interest grew to 24 crores, up by 170% YoY
“As an innovation thought leader and an early mover of Enterprise wide IT Business Transformation through Cloud Computing for Highly Regulated Industries, 8K Miles is able to make an impact across verticals, industry recognized secure and compliant control framework resulting in acceleration of new cloud business initiatives for fortune 500 customers. “ said Mr. Suresh Venkatachari, Chairman and Managing Director, 8K Miles Software Services, Ltd.
Consolidated Financial Highlights for the Quarter ended September, 2016:
Particulars
|
Q2 FY 17
|
Q-o-Q growth
|
Y-o-Y growth
|
Revenue (INR Lakhs)
|
12221
|
18%
|
100%
|
EBITDA (INR Lakhs)
|
4243
|
15%
|
101%
|
PBT (INR Lakhs)
|
3780
|
21%
|
141%
|
PAT before minority interest
|
2867
|
19%
|
138%
|
PAT after minority interest
|
2363
|
22%
|
170%
|
Key Business Highlights:
- Won a big cloud opportunity with a very large fortune 50 company to build their secure and compliant cloud platform on AWS cloud for their Healthcare business unit.
- Won a new CloudEz platform deal to help with cloud transformation journey for an enterprise customer.
- Recently partnered with an US based SAP services firm to design, architect and plan the migration and transformation of ERP workloads to public cloud.
- Established relationship with a large European partner for similar ERP cloud opportunities.
- During this quarter, added multiple healthcare providers in the US for providing EHR implementation and project management services.
Recognitions during Q2 FY2017
- 8K Miles received certification from Amazon Web Services as Audited AWS Managed Service Partner and also recognized in an elite group of Next Generation AWS MSPs.
About 8K Miles:
8K Miles Software Services is a leading Global IT Business Transformation, Secure Cloud Solutions and Managed Services Provider 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.