OREANDA-NEWS. AGC Networks Limited, (BSE: 500463 and NSE: AGCNET), an Essar enterprise and a Global Solution Integrator announced audited financial results for year ended March 31, 2016.

Highlights for FY 2016 vs FY 2015:

·         Revenue at Rs 878.94 Crs in FY 2016 against Rs 888.78 Crs in FY 2015

·         EBIDTA for FY 2016 is Rs 11.19 Crs against EBIDTA of Rs 30.45 Crs in FY 2015

·         PAT( loss) in FY 2016 is Rs 34.59 Crs as against PAT in FY 2015 of Rs 14.77 Crs

Highlights for Q4 FY 2016 vs Q4 FY 2015:

·         Revenues for Q4 FY 2016 at Rs.218.33 Crs from Rs 241.61 Crs in Q4 FY 2015

·         EBIDTA (loss) for Q4 FY 2016 is Rs 2.47 Crs against EBIDTA of Rs 20.31 Crs in Q4 FY 2015

·         PAT ( loss) for Q4 FY 2016 is Rs13.02 Crs against PAT of Rs 47.01 Crs in Q4 FY 2015

Business Highlights

AGC continues to be relevant in the technology landscape by providing a secured environment to the customer organization. The year has seen CYBER-i, the cyber security division of AGC Networks emerge as a thought leader in the cyber security space.

Recent business highlights include:

·         CYBER-i participates in NASSCOM-DSCI led Indian Cyber Security Delegation to the Netherlands and UK

·         Cisco awards AGC Networks (India) with Gold Certification

·         AGC awarded Best Enterprise Partner (West) by Juniper Networks

Speaking on the occasion, Sanjeev Verma, Whole-time Director, AGC Networks said “Our international presence and business continues to grow and deliver positive results. AGC is being built globally on the 3 principles of building lasting relationships, continuing to be relevant to the eco system and delivering objective results. Our prime objective is to deliver value to stakeholders – customers, partners, employees and above all shareholders. Investments in CYBER-i, Hosted iVR and hosted platforms, Cloud and Managed Services offerings are aligned to deliver a future-technology ready organization for customers. The collaboration of our people with the eco system is towards creating and delivering operational efficiencies.”

Amal Thakore, Chief Financial Officer, AGC Networks said “AGC’s India business has complied with the new Internal Control over Financial Reporting (ICoFR) standards thus enhancing the reliability of our financial statements. We continue to make progress on all financial parameters in international geos. ”