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Net 4 India FY11 Profit Up 84%; Demand For Cloud Services Increases

Web domain and hosting service provider Net 4 India has posted a Profit After Tax of Rs 21.13 crore for the year ended March 31st 2011, up 83.7% from Rs 11.50 crore reported for the year ended March 31st 2010.  Total income increased to Rs 307.69 crore for FY11 from Rs 197.05 crore for FY09, up 56.1%. EPS increased from Rs. 6.66 to Rs 10.84  per share, up 62.7%, on a consolidated basis. The company has recommended a dividend of 10%, Re 1 per share.

For the quarter ended 31st March 2011, Net4India reported consolidated revenues of Rs 91.65  crore, up 52.85% from Rs 59.96 crore reported during Q4-10.Profit Before Tax increased to Rs 8.91 crores for the quarter, up from Rs 5.21 crores reported last year. Profit After Tax for the quarter increased to Rs 5.88  crores, from Rs 3.28 crores.

The company informed that its in the process of setting up a new data center in Chennai, which will be complete by the last quarter of this financial year. It says it witnessed demand in cloud server and data center space and added 300 customers in the last six months for its cloud server operations.

Financials | Release

In an intimation to the BSE, the Net4India had said that it was looking to expand inorganically and was on the look out for an Internet related business. Following this, it had acquired a majority stake in Pipetel Communications, a company that holds a Category ‘A’ ISP license, for Rs 4.16 crore.

In February, the company sold 4.6% stake for Rs. 11 crore to Acacia Partners and its associate funds.It had raised Rs 8.04 crore from QS India Holding, the investment arm of private equity firm Quilvest, in August 2010, by selling a 3.4% stake. It also raised 8.46 crore by issuing preferential shares to Granite Hills India opportunity fund, diluting 4.7% stake in second round funding.

Related:
– Updated: Net4India Reports 36.9% Increase In Profits For FY10; To Raise Rs. 80.46 Million From Granite Hills India
– Net 4 India To Raise Rs. 200M: Report
– Net 4 India Raises Rs. 150M From Madison India Capital

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