Onward Technologies FY19 net profit up by 50.7% at INR 10.13 crore

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Consolidated Profit after Tax (PAT) at INR 3.20 Cr for Q4 FY19, up 178.2% from INR 1.15 Cr in Q4 FY18.

Onward Technologies, one of India’s leading engineering and IT services companies, announced its FY19 and Q4 consolidated results.

Highlights for the Financial Year ended March 31, 2019

• Consolidated Revenues closed at INR 262.21 Cr in FY19 as against INR 249.21 Cr of FY18, a growth of 5.2%.
• Consolidated EBITDA closed at INR 23.60Cr in FY19, up 47.3% from INR 16.02 Cr of FY18.
• Consolidated Profit before Tax (PBT) at INR 15.20 Cr in FY19, up 102.4% from INR 7.51 Cr of FY18
• Consolidated Profit after Tax (PAT) was at INR 10.13 Cr in FY19 as against INR 6.72 Cr of FY18, a YoY growth of 50.7%,
• Company declared an EPS of INR 6.45 in FY19, up 48.2 % from previous financial year
• For the financial year ended March 31, 2019, the Board recommended a final dividend of Rs. 1.50 paise per share, to be confirmed at the 28th Annual General Meeting.

Highlights for the Quarter (Q4) ended March 31, 2019

• Consolidated Revenues in Q4 of FY19 were at INR 66.54 Cr, up by 3.6% from INR 64.23 Cr in Q4 FY18
• Consolidated EBITDA were at INR 6.29Cr for Q4 of FY19, up 198% from INR 2.11 Cr in Q4 FY18.
• Consolidated Profit before Tax (PBT) at INR 4.20 Cr for Q4 of FY19, up 2524.9% from INR 0.16 Cr in Q4 FY18
• Consolidated Profit after Tax (PAT) at INR 3.20 Cr for Q4 FY19, up 178.2% from INR 1.15 Cr in Q4 FY18
• Earnings Per Share (EPS) for Q4 was the highest at INR 2.03

Harish Mehta, Onward Technologies Founder & Executive Chairman commented on the performance of the Company, saying, “I am pleased to share that Onward Technologies has performed well in Q4 and the company has delivered consistent growth quarter after quarter. We have been investing for the future over the last few years & during the year and we are expecting these investments to yield both a healthy top-line growth and continuous margin improvements. I am happy to inform you that the Board of Directors have recommended to the AGM to increase the dividend from 10% last year to 15% for the current year.”