ICSA Income from Operations increases by 5.91% in Q2 of FY 11

Income from Operations stood at Rs 325.38 Crores, up by 5.91 % compared to previous quarter. PAT stood at Rs 29.44 Crores, up by 5.98 %, compared to previous quarter. Basic EPS increased by 5.62% to Rs 6.20, compared to previous quarter. End Quote

(1888PressRelease) November 05, 2010 - Hyderabad - ICSA (India) Ltd, (BSE: 531524), provider of embedded technology solutions and infrastructure deployment services for the power sector, reported a increase of 5.91 % in its Income from Operations, which stands at Rs 325.38 Crores in the quarter ending September 30, 2010 as against Rs 307.22 Crores in the previous quarter ending June 30, 2010.

Similarly, PAT for the quarter ending September 30, 2010 stood at Rs 29.44 Crores as against Rs 27.78 Crores for the quarter ending June 30, 2010, an increase of 5.98 %.

Basic EPS for the quarter ending September 30, 2010 stood at Rs 6.20 as against Rs 5.87 for the quarter ending June 30, 2010, an increase of 5.62 %.

Company's Income from Operations, stood at Rs 325.38 Crores in the quarter ending September 30, 2010 as against Rs 311.12 Crores in the same period last year, an increase of 4. 58 %.

Similarly, the company's PAT for the quarter ending September 30, 2010 stood at Rs 29.44 Crores as against Rs 38.48 Crores for the corresponding period last year, a decline of 23.50%.

As a result Basic EPS for the quarter ending September 30, 2010 also declined by 24.11 % to Rs 6.20 from Rs 8.17 for the corresponding period last year.

The total order book for the company as on September 30, 2010 stands at Rs 1892 Crores. The order book for ESS segment stands at Rs 232 Crores and that of IPS segment stands at Rs 1660 Crores as on September 30, 2010.
Commenting on the result, Mr. G. Bala Reddy, Managing Director, ICSA (India) Ltd said, "This quarter passed as we expected and according to us it went well. Infrastructure segment contributed 67% to the overall revenues with ESS segment contributing 33%. IPS revenues increased by 8% on a quarter on Quarter basis but the ESS revenues remained flat. Similarly, margins at the operating level were sustained at 28% for ESS segment and 11.9% for IPS segment.

The momentum in the technology sector started but in a very small manner. ICSA has received orders from R-APDRP to the tune of Rs. 17 Crores but the overall Technology order inflow for the quarter was at Rs. 47 Crores from ESS segment.

As per our internal plans of concentrating on the higher end transmission segment for IPS business, ICSA witnessed a total order inflow of Rs. 255 cr., and all of it is in the transmission segment. Of the total, about Rs. 195 Crores was from 400Kv Transmission.

Efforts to strengthen technology sector are beefed up and as we have been expecting the balance half of the current financial year is expected to yield some good results. We are hopeful that from the current quarter the order inflow in ESS segment also will increase. Automation technology orders are expected from 2- 3 more states and similarly, SCADA orders for at least 2-3 states are expected to be floated during the quarter.

Energy Metering division is also expected to show good results in the current quarter as the order pipeline is being built which would result in order inflow during the current quarter."

About ICSA (India) Ltd:
ICSA (India) Ltd is in the business of providing technology solutions to power utilities. It also deploys infrastructure in distribution and transmission sectors for different state utilities. The company's product line includes: Intelligent Automatic Meter Reading System, Multiplexer Unit, Distribution Transformer Monitoring System, Substation Controller, Micro Remote Terminal Unit, Theft Detection Devices, Pole Top RTU and SCADA solutions.

The company has developed products suitable for power utilities in the field of Energy Management, Energy Audit, and Control applications and provides versatile Data Acquisition Systems using GSM, CDMA, and RF.

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