Mumbai, Maharashtra, India | 24th January 2020: Onward Technologies Limited (BSE: 517536 & NSE: ONWARDTEC) announces its results for the quarter ending December 31, 2019.
| Operating Revenue INR 205.96 Cr ↑ 5% | EBITDA INR 23.97 Cr ↑ 41% | PBT INR 13.52 Cr ↑ 23% | PAT INR 9.23 Cr ↑ 33% | EPS INR 5.77 ↑ 31% |
Commenting on the performance of the company, Jigar Mehta – Managing Director said, “Q3 was an important quarter for us. Our investments in building Digital capabilities and strengthening capacities for meeting requirements of our strategic clients started yielding results. This has now transpired into several large project renewals, customer accolades and new project wins from leading global manufacturing organisations. We also made significant breakthroughs in our first few large accounts in the Industrial Equipment, Pharma and Medical Equipment sectors. We feel positive starting 2020 with such a strong clientele & are excited in scaling our business in the Digital and Industry 4.0 journey with them. I also want to take this opportunity to congratulate our entire team for achieving 100% Debt Free status of Onward eServices Ltd. (100% subsidiary of Onward Technologies Ltd.), our domestic IT services business.”
