Mumbai : Geometric Ltd announced its Q2 FY 2010-2011 financial results.

Geometric declared operating revenues of Rs. 1,519.31 Mn this quarter, a rise of 12.2% from the previous quarter revenues of Rs. 1,354.50 Mn; and an 18.5% rise from revenues of Rs. 1,281.93 Mn in the same quarter last year. In US dollar term, revenues rose 10.8% Q-o-Q and 23.6% Y-o-Y to USD 32.8 Mn this quarter from USD 29.59 Mn in Q1FY11 and USD 26.54 Mn in Q2FY10 respectively. The company recorded a profit after tax (excluding extraordinary items) of Rs 136.37 Mn; a rise of 26.1% from the previous quarter profit of Rs 108.15 Mn, 36% rise from Rs 100.29 Mn in the same quarter last year.

Announcing the results, Mr. Ravishankar G., Managing Director & CEO said, “While our market environment continued to be challenging, our focus on delivering value to existing customers has helped us deliver growth. The verticalized restructuring of the company earlier this year has helped us strengthen our relationships and deepen our engagement levels with customers.

Our US engineering services business, which broke even earlier this year, has booked profits primarily due to increased traction in the industrial and automotive verticals, improved utilization, and increased leverage of our global engineering centers. While the markets in Europe have improved marginally, we are seeing good growth in the APAC region.

We expect the coming quarters to be a mixed-bag for the industry with increase in customer engagements, offset by challenges such as exchange rate volatility, tax laws in India, policy changes in the US, attrition, and talent availability.”

At the end of the quarter, the company had an employee base of 3,447.

Business Highlights

The Company added nine new customers during Q2, and at the end of the quarter, it had 108 active customers, including 18 customers with million dollar plus revenues. Some of the significant wins this quarter include:

• Multiple engineering services contracts for a leading global heavy engineering company in India –

• A software development project for a leading PLM company in US

• A plant support and process planning project for a leading heavy engineering company in US

• A system integration project for an automotive company’s R&D unit in US

• A supply management system development project for a leading aerospace player in the US

• A process and methods development project for a leading agricultural equipments company in US

• A product launch support project for a key agricultural and heavy equipments manufacturer in the US

• Multiple contract extensions with a leading PLM company in US

• Maintenance support contracts in product lifecycle management for a leading automotive company in Europe

Other important business highlights for the quarter include:

• A novel use of our CAM software, CAMWorks by Victoria University for teaching students

• Release of advanced versions of some of our products, including:

o NestLib 2010 R3

o eDrawings Professional for NX version 7.2

o eDrawings Professional for Autodesk Inventor version 8.0

o DFMPro version 2.2 for Pro/ENGINEER