8K Miles Software announces Q3FY19 results

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Q3FY19 Net Profit up y-o-y 3.03% at INR 46.15 crore

• Revenue of Rs. 260.56 Crores v/s. Rs. 223.88 Crores [á 16.08%]
• EBITDA before exceptional items of Rs. 89.45 Crores v/s. Rs. 77.33 Crores
• PAT after minority interest at Rs. 46.15 Crores v/s. Rs. 44.79 Crores

Consolidated Financial Performance for Q3FY19 vs Q2FY19 (Sequential Quarter)

• Revenue of Rs. 260.56 Crores v/s. Rs. 282.56 Crores [↓ 7.79%]
• EBITDA before exceptional items of Rs. 89.45 Crores v/s. Rs. 96.96 Crores
• PAT after minority interest at Rs. 46.15 Crores v/s. Rs. 50.90 Crores

Consolidated Financial Performance for YTD19 vs YTD18

• Revenue of Rs. 783.35 Crores v/s. Rs. 629.92 Crores [á 24.36%]
• EBITDA before exceptional items of Rs. 273.66 Crores v/s. Rs. 211.86 Crores
• PAT after minority interest at Rs. 144.57 Crores v/s. Rs. 123.97 Crores

8K Miles Software Services, Ltd., a leading Global IT Business Transformation, Secure Cloud Solutions and NextGen Managed Services Provider, today announced the Company’s unaudited financial results for the quarter ended December 31, 2018 as approved by the Board of Directors.

Business Highlights for the quarter ended December 31, 2018

· 8K Miles is a Certified AWS Premier Partner – one of top 40 out of about 60,000 AWS Partners, while 8K Miles is already a Microsoft Gold Cloud Platform Partner
· Signed 2019 Annual Contract with potential to well exceed $5M with a Global Pharma Account
· Major project awarded by a Large Pharma Account to build Nextgen Data Lake platform as we are actively working on several other projects.
· Another Top Pharma Client engaged 8K Miles to build Genomics Data Lake for their Nextgen Genome Analysis
· Added a new logo to implement their WebApp and Mobile Clouds along with Annual Support
· 8K Miles is actively working to rollout our Data Analytics and Data Lake Platforms as a Service
· 8K Miles Cornerstone was selected by 4 US Hospitals to drive EPIC Connect Implementations and Program Support
· Driving strong growth, 8K Miles Cornerstone MEDITECH Practice was selected for MEDITECH Expanse implementation by 6 US Hospitals while winning Go-Live and Post Go-Live Support across 4 Hospitals and Legacy Support and Services with 5 different Hospitals.
· To support the continued growth, 8K Miles is further expanding Sales and Account Operations in East and South West USA as well as Europe and APAC
· Continuing to excel on strategic partnerships with AWS, Microsoft, Google, Oracle and Service Now with Joint Sales Operations, Strategic and Tactical Planning as well as Joint Workshops
· 8K Miles was chosen as Beta Partner for AWS WorkLink Service. Also, AWS chose 8K Miles as one of the top HCLS (Healthcare & Lifesciences) partners along with other popular vendors VM Ware, Orion Health, Change Healthcare, Clear Data, and Infor

Management Statement

Commenting on the result Suresh Venkatachari, Chairman and Managing Director, 8K Miles Software Services, Ltd said “8K Miles continues to see strong business trend as the growth of Cloud and Cloud based advanced technologies revitalizing business growth as well as showing great potential of cost reductions. As a result, 8K Miles is continuing to Secure and Lead the Trust of Top Global Pharma, Life Sciences and Healthcare Clients and help them realize Enterprise Cloud Transformation, Multi & Hybrid Cloud Integrations, Data Lake, Genomics Platforms and Nextgen Implementation Services. I sincerely appreciate our Clients as well as dedicated employees for their continued support, whom make our business possible.”

About 8K Miles Software Services Ltd

8K Miles Software Services is a global Cloud & Security solutions provider and Next Generation Cloud MSP headquartered in the San Francisco Bay area and a publicly traded company listed on Indian Stock Exchanges (NSE and BSE). 8K Miles Software Services offers secure Cloud solutions allowing for organizations in highly regulated industries to embrace the Cloud and that can meet GxP, HIPAA, PCI, SOX and GLB making it easy to meet regulatory compliance on the Cloud.

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