Accentia’s net profit up despite global recession

Health care receivables cycle management (HRCM) player Accentia Technologies, operating from the Technopark here and other centers, has recommended a final dividend of 20% for 2008-09. Company officials said the good performance in 2008-09 was achieved despite the global recession that had forced many BPO/KPO companies to take extreme measures including large-scale pink slips and cost cutting.
Accentia Technologies CEO Pradeep Viswambharan said the performance in 2008-09 showed there was room for hope even in adversity. He said the company’s net sales and net profit had increased from Rs 51.90 crore and Rs 14.86 crore respectively in 2007-08 to Rs 80.46 crore and Rs 24.55 crore respectively in 2008-09.
He said the company had grown strongly in recent times, from two production centers in 2008 to 17 centres across India and abroad, adding that Berggruen Holdings had bought a 14% stake in the company which would help the company look at acquisition and expansion plans.
He said Accentia planned to increase its employee base by 60% in the current fiscal, and that the company had initiated an organization-wide process and cost restructuring exercise to increase its profitability even in the present challenging market conditions.

source: Economic Times

Accentia Technologies Ltd, Technopark

Accentia Technologies Ltd (Bombay Stock Exchange: ACCENTECH; SCRIP CODE 531897) is a pioneer and proven leader in end-to-end Business Process Management (BPM) solutions for Health care, Financial and Insurance Sectors.
Accentia, with its 10 years’ proven track record and a very talented pool of 2000+ BPO professionals spread across the globe, focuses on delivering cutting edge solutions and services to its client organizations. Our solutions and services help client Organizations Improve the efficiency in all spheres of their service areas and thereby enhance the Return on Investment.

Accentia offers a choice of technology and workforce solutions to help facilities manage outsourced processes with an emphasis on verifiable quality, fast turnaround times and competitive pricing. Our solutions are also designed to integrate with virtually all health information, applications and systems. A key Accentia differentiators is the technology capability. Our skills also help us understand and ensure tighter integration with client systems, a key driver of Client-usefulness and usability. Our tools in fact are often deployed on Client extranets - giving Clients direct access to process results.
The management team has a proven track record of managing complex outsourcing projects for Fortune 500s across the globe and a deep understanding of the Indian operating environment. The team specializes in setting up successful models for outsourcing and has been instrumental in establishing excellent client relationships for on site and off shore models for BPO / ITES wherein the clients have saved substantial costs and the off shore entity have won large contracts.

Accentia through its acquisitions has in its fold some of the big corporate brands in the USA and UK as its clients and the list is fast expanding.

Contact Info:

Accentia Technologies Ltd.

233-241, NILA, Technopark Campus
Phone: 471-2700964
Email: info@accentiatech.com
Website: www.accentiatech.com
Managing Director: Mr. V S Pradeep

ACCENTIA UPS DIVIDEND DESPITE CRUNCH

Gkg, Thiruvananthapuram, June 8, 2009
The Economic Times (Bangalore edition)

Healthcare receivables cycle management (HRCM) player Accentia Technologies, operating from the Technopark here and other centres, has recommended a final dividend of 20% for 2008-09. Company officials said the good performance in 2008-09 was achieved despite the global recession that had forced many BPO/KPO companies to take extreme measures including large-scale pink slips and cost cutting.

Accentia Technologies CEO Pradeep Viswambharan said the performance in 2008-09 showed there was room for hope even in adversity. He said the company’s net sales and net profit had increased from Rs 51.90 crore and Rs 14.86 crore respectively in 2007-08 to Rs 80.46 crore and Rs 24.55 crore respectively in 2008-09.

Accentia recommends 20% dividend

Health care Receivables Cycle Management (HRCM) major Accentia Technologies Ltd has recommended a final dividend of 20 per cent on the face value of its Rs 10 shares for the financial year 2008-2009.

An Accentia spokesperson said this is despite the fact that owing to the current global recession, BPO and KPO companies are facing challenges leading to extreme measures including large scale pink slips and other cost cutting steps.

Pradeep Viswambharan, CEO of Accentia Technologies, added that the recession in the US economy, on which we too depend for our major contracts, has had little effect on our volume growth in fiscal 2008-09. In fact, our performance in 2008-09 in comparison to the previous year shows that there is room for hope even in the face of adversity”.

The net sales had grown to Rs 804.6 million and net profit to Rs 245.5 million respectively, as against the 2007-08 figures of Rs 519 million and Rs 148.6 million respectively.

Accentia Technologies, over the past two years, has recorded growth in its operations, he added. From just two production centers in 2008, the company currently boasts of as many as 17 production units spread across India and abroad. Accentia currently operates from Bangalore, New Jersey, Portland (Oregon), Ft Lauderdale (Florida), UAE, Trivandrum, Cochin, Hyderabad, Kolkata, Chandigarh and Bhubaneshwar.

Berggruen Holdings, a $ 3-billion fund has bought 14 per cent stake in Accentia, making it possible for the HRCM leader to go ahead with its acquisition and expansion plans. Accentia plans to increase its global employee base by 60 per cent in the current fiscal to execute the orders in hand. Accentia has initiated an organization-wide process and cost restructuring to increase the profitability even in the present challenging market conditions and it is showing positive results.