SPHERE GLOBAL SERVICES LIMITED Delivers Promising Performance

SPHERE GLOBAL SERVICES LIMITED

Delivers Promising Performance:
Consolidated Q2FY17 PAT up by 793.48% at Rs. 4.11crore
Consolidated Q2FY17 Total Income up by 194.05% at Rs. 14.88crore

Consolidated Results

For the Quarter ended September 30, 2016 (Q2FY17):
Total Income stood at Rs. 14.88 crore 
EBIDTA of Rs. 5.92 crore vs. Rs 0.51 crore for Q2FY16
Net Profit stood at Rs. 4.11 crore vs. Rs 0.46 crore for Q2FY16
EPS for Q2FY17 stood at Rs. 2.36, as compared to Rs. 0.26 for Q2FY16 and Rs. 2.03 for Q1FY17

For the Half Year ended September 30, 2016 (H1FY17):
Total Income stood at Rs. 27.50 crore 
EBIDTA of Rs. 10.87crore vs. Rs 1.11 crore for H1FY16
Net Profit stood at Rs. 7.66crore vs. Rs 1.00 crore for H1FY16
EPS for Q2FY17 stood at Rs. 4.39, as compared to Rs. 0.57 for H1FY16

Sets new financial Milestone; builds visibility of growth :
Organic growth by implementing SAP on S/4 HANA in reputed businesses.
Business in scale up mode:
Increase in sales in US Subsidiary and Middle East Operations
Strategic performance Delivered:
Successful implementations of onsite and offshore model.

Hyderabad, November 15, 2016: Hyderabad based SAP service provider Sphere Global Services Ltd. (Sphere), declared its financial results for the second quarter and half year ended September 30, 2016.

SPHERE GLOBAL SERVICES LIMITED Delivers Promising Performance


 The company reported Consolidated Net Profit of Rs. 4.11crore for Q2FY17, up by 793.48%, as compared to Rs. 0.46 crore in the corresponding quarter of last fiscal. The company’s PAT margin improved from 9.08% in Q2FY16 to 27.62% in Q2FY17.

Consolidated Total Income for the quarter ended September 30, 2016 stood at Rs. 14.88 crore, as compared to Rs. 5.06 crore in the same period last year witnessing growth of 194.05%. 

Earnings per share (EPS) for the quarter ended Q2FY17 stood at Rs. 2.36, as compared with Rs. 0.26 for the quarter ended Q2FY16.

For the half year period ended September 30, 2016, Sphere’s net profit jumped by 666.0% to Rs. 7.66 crore, as compared to Rs. 1.00 crore of the year ago period. The company’s PAT margin improved from 12.05% in H1FY16 to 27.85% in H1FY17.

Total Income for H1FY17 stood at Rs. 27.50 cror e, as compared to Rs. 8.31 crore during H1FY16. Sphere’s EBIDTA in H1FY17 stood at Rs. 10.87 crore, as compared to Rs. 1.06 crore during H1FY16.

For H1FY17, EPS stood at Rs. 4.39 as against Rs. 0.57 in H1FY16.

Commenting on the financial performance of the company Mr. S SudhaKiran Reddy, Managing Director, Sphere Global Services Limited, said, “We take pride in reporting a strong quarterly performance.The growth emanatesfrom accelerated sales momentum witnessed in Q2FY17 and is expected to continue. Strategic initiatives are building further momentum into earnings. Further also the GST roll out will help unlock the much needed efficiencies in the way businesses operate today and we are distinctively positioned with our network and technology to support this transitions. The company continues its approach towards improving scalability by creating and evolving our relationships with our new and existingcustomers going forward and closely work with them to meet their needs of a post GST environment in India. We are pleased to inform that the company continues to take concerted steps and as anticipated the subsidiary based out of USA and the Middle East operations has shown an increase in its salesthereby strengthening and complementing our existing product and service offerings. Both the Onshore and Offshore operations are running fruitfully and result in continuing Solid performance.”

About Sphere Global Services Limited 
Established in 1990, SGSL is a listed entity based out of Hyderabad.  An IT/ITES service company providing Pre-configured SAP solutions. Providing SAP offerings Onsite to the clients . SGSL has more than 150+ employees and is its WOS –Adroit Infotech Pvt Ltd based in Pune is an authorized SAP Training Partner. SGSL WOS in USA is capable of addressing multiple industry verticals and set on a rapid growth path. This also gives an opportunity for Sphere Global to provide cost effective solutions by leveraging resources from their Hyderabad, Pune, USA and Middle East Centres.
Sphere Global Services Ltd is a fast growing Software Company with complete stack of digital solutions for enterprises with deep domain expertise. Present  across India, Middle East and North America, the leadership team consists of veterans considered pioneer in SAP preconfigured solutions. Sphere Global & it's wholly owned subsidiary, Adriot Infotech aspires to be significant SAP certified partner to clients through its IP based digital solutions in discrete manufacturing, Automotive components, Cement, Chemicals, Food Processing & Agri businesses, helping them in reducing cost and improve efficiency & effectiveness by leveraging it's global presence.

Disclaimer:
This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for fiscal year 2014 and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events.   
Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, the frequency, magnitude and timing of paper and other raw-material-price changes, general business and economic conditions beyond the Company's control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace including the ability to attract and retain customers, results of continuous improvement and other cost-containment strategies, and the Company's success in attracting and retaining key personnel. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information, since these statements may no longer be accurate or timely.