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AGC Networks, a subsidiary of Essar Group firm Aegis, has pared its net loss to ₹9.4 crore in the second quarter ended September 30, compared with ₹42.1 crore a year ago.
The company’s revenue rose to ₹222.3 crore during the quarter under review, compared with ₹213.5 crore recorded during the same period a year ago. During the quarter, the company’s EBITDA (operating profit) was at ₹3 crore (EBIDTA loss of ₹30 crore), it said. The first milestone of breaking-even at EBIDTA level across global markets has been achieved after six quarters, the company said in a statement.
During the quarter, the company registered significant business in India from IT, BPO and manufacturing verticals, apart from million dollar wins from a top US bank, a financial Services company in India, a telecom service provider in Bangladesh and a Government Agency in Africa.
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