Tulip Telecom has announced its financial results for the fourth quarter and fiscal year ending March 31, 2011. Tulip posted revenues of Rs 637.9 crore for the fourth quarter ending March 31, 2011, up 20.2 percent over the previous quarter. With this, the total revenues for the FY 2011 were reported as Rs 2351.1 crore, up 19.6 percent over FY 2010. Further, the company’s net profit for the quarter and the financial year ending March 31, 2011 stood at Rs 82.7 crore (up 25.7 percent over the previous quarter and at Rs 306.4 (up 32.3 percent over the previous fiscal) respectively.
The growth was primarily driven by the enterprise data services business of the company with increased traction in existing and new industry segments. The company further augmented its fast growing services portfolio by adding an array of new products complimenting its existing products viz. Managed VC, Video Surveillance, Collaboration tools, etc. Tulip signed new customers including Apex Bank (Assam), Biocon, GMR Group, HP-India, Honeywell, MRF and TATA Steel to name few. The company posted a diluted EPS of Rs 5.09 for the year ending March 31, 2011 up 32.3 percent over the previous fiscal. With an increase in the volumes, the company has realized significantly higher EBITDA margin for the financial year at 29.3 percent delivering a growth of 20.8 percent.
In a statement, Lt. Col. H S Bedi, Chairman and MD of Tulip Telecom said, Various initiatives undertaken during the last few years bring us closer to achieving our vision of migrating from an Enterprise Connectivity provider to an integrated Enterprise Data Service player. Our focus now is on consolidating the management team with a view to enhance operational efficiencies whilst increasing customer satisfaction by augmenting our service delivery processes and product offerings which we believe, should pave the path for future growth”.
Sanjay Jain, CEO, Tulip Telecom, further added on the operational and financial performance, We are glad to close the year on a robust note. Offering an end-to-end data solution to our customers has not only enabled us to increase our share in the Enterprise Data Service market to 12.7 percent, but also has facilitated us in achieving a higher wallet share of our customer’s which is reflected in improved top-line and bottom-line performance”.
By TelecomLead.com Team