Intellectual property-driven telecom products and solutions company, Megasoft Limited on Wednesday announced that while it posted revenues of Rs. 14.15 crore in the first quarter of the current fiscal, it incurred a net loss of Rs. 1.43 crore, with EBITDA at Rs. 2,08 crore.
A company release said while carrier infrastructure and mobile payments business segments saw a growth, roaming and United States pre-paid revenues declined. The company lost its biggest customer contract from Q 3 of 2013, resulted in lower revenues and EBITDA in 2014-15. However, due to strong financial discipline and a ‘cash and caution’ policy coupled with growth from existing clients, it managed to stay operationally cash-profit positive in the quarter, the release said.
Managing Director & CEO, Megasoft, G.V. Kumar said “while the transition from being a pre-paid platform company to one that caters to total infrastructure and mobile payments segments has led to short-term revenue declines and was a difficult transition, the company was poised to grow well profitably in the medium and long-term. It would establish itself as a major global player in the mobile industry, specially with additional new product launches and focus on new markets and geographies.”
South America remained the biggest growth region and it continued to get new deals in the region. Pipeline remains strong for the Carrier Infrastructure business with several new customers engaged in various stages of Deal Closures.