8K Miles Q4 Gross Revenues up by 96.40 % YoY and 17.54 % QoQ

EBITDA up by 110.01 % YoY and 19.53 % QoQ
Chennai/Mumbai: May 10, 2017: 8K Miles Software Services, Ltd., a leading Global IT Business Transformation, Secure Cloud Solutions and Managed Services Provider, today announced the Company’s audited financial results for the quarter ended 31st March, 2017 as approved by the Board of Directors
Key Financial Highlights and Dividend:
Gross Revenues grew to 533.82 crores, an increase of 96.40 % YoY?
EBITDA grew to 186.34 crores, an increase of 110.01 % YoY
Net profit after minority interest grew to 104.15 crores, up by 163.11% YoY
Recommend a Dividend of Rs.7/- per equity share (Face Value-Rs.5/-) for the year ended March 31, 2017
To consider and Grant of stock options to the employees of the Company and its Subsidiaries.
Overall company performance during the recent fiscal year 2016-17 was excellent. Various factors contributed to the success last year including company consistently meeting the business objectives, increase in enterprise identity and access management business, additional capabilities to acquire new highly regulated customer’s faster, increase in recurring revenues through cloud managed services offerings and customer satisfaction resulting in repeat business. Recent acquisitions enabled 8K Miles to cross sell and upsell new cloud solutions and capabilities at a rapid speed with continuous security and continuous compliance as differentiators. The CloudEz platform along with secure and compliance control framework bring a huge value to highly regulated customers using the cloud.
“In the coming year, we see more and more enterprise workloads moving to public clouds such as Amazon Web Services, Microsoft Azure and Google Cloud as the need for accelerating enterprise wide Digital Transformation increase. With the support of our enhanced CloudEz platform features and compliance automation, large enterprise customers will be able to move highly regulated compliant workloads to move faster, operate more securely, and save substantial costs; all while benefitting from the scale and performance of the cloud. We continue to see a lot of cloud business opportunities around data center consolidation, modernization, and globalization among mid-size to large pharma and life sciences customers. “said Mr. Suresh Venkatachari, Chairman and Managing Director, 8K Miles Software Services Ltd.