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Financial Technologies reports a loss of Rs 116 crore for Q4

28 May 2011 Evaluate

Financial Technologies (India) has reported results for the quarter and the year ended March 31, 2011

The company’s net loss for the fourth quarter has widened down to Rs 116.66 crore as compared to net loss of Rs 43.84 crore for the same quarter previous year. The company’s total income has decreased by 4.55% at Rs 87.71 crore for the quarter under review from Rs 91.89 crore for the corresponding quarter of the previous year.

The company has reported a net loss of Rs 91.93 crore as compared to net loss of Rs 344.37 crore for FY10. Its total income has decreased by 24.36% from Rs 618.24 crore in the previous year to Rs 467.65 crore for the year under review.

On consolidated basis, the Group’s has posted a net loss after minority interest of Rs 136.80 crore as compared to a net loss of Rs 140.11 crore. The total income has decreased by 11.67% to Rs 550.78 crore for the quarter from Rs 623.57 crore for the similar quarter of the previous year.

Financial Technologies (India) has recommended final dividend of Rs 2 per equity share of face value Rs 2 each or 100% on equity capital of the company subject to the approval of the shareholders at the ensuring annual general meeting of the company. During the year the company has paid three interim dividend aggregating to Rs 6 per share being 300% and accordingly, total dividend for the year (subject to final dividend approval by the shareholders) aggregate Rs 8 per share being 400% on nominal value of the equity shares of Rs 2 each.

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