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Net4 India Q2FY12: Net Profit Up 65% YoY; Revenues At Rs 116.72 Cr

Web domain and hosting service provider Net4 India has posted a Profit After Tax of Rs  9.53 crore for the quarter ended September 3oth 2011, an increase compared to a profit of Rs 5.77 crore that it posted during the same quarter, last year. Profit Before Tax increased to Rs 14.10 crores for the quarter, up from Rs 8.77 crore reported during the corresponding quarter, last year. The company registered a net revenue of Rs 116.72 crore, a major increase of 50.9% compared to Q2FY11′s revenues of Rs 77.34 crore. Net 4′s Basic and Diluted EPS increased from Rs. 3.05 to Rs 4.75 per share, on a consolidated basis, during the quarter. The company reported domestic sales of Rs 186.89 crore, during the quarter, and Overseas market sales of Rs 6.03 crore. According to a statement from the company, cloud services, Saas, Private cloud services, and virtualization solutions offered by the company have seen traction, leading to its growth trajectory in the last six months. Net4 has added 40,000 web services customers in the last quarter. Last quarter, the company had got an approval from its board of directors, for re-organizing its business: Pipetel Communications, a wholly-owned subsidiary of the company, which offers Enterprise Internet Services, VoIP Solutions and Web Services billing and provisioning platforms, will be merged with the company, and the ISP business of the company will be demerged into Net 4 Network Services. Net 4 India had acquired a majority stake in Pipetel Communications for Rs 4.16 crore, earlier this year. Financials

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