Growth

Chennai-based 8K Miles Software revenue grows 183.75%

8K Miles Software Services has registered 183% growth in revenues and 210% hike in PAT, driven by its new products and a couple of acquisitions during the last fiscal. Based in the US, but having its registered office in Chennai, 8K Miles is the only pure cloud computer firm listed in India. A premier partner of Amazon Web Service (AWS), the company has made two acquisitions in the healthcare sector during the last year.

“We continue to see significant growth in our Cloud Security Solutions and Cloud Managed Services. Our recent launch of CloudEzRx, a cloud-platform designed to answer the compliance and regulatory needs of Pharmaceutical/Life Sciences industry is gaining market awareness while adding more key-functionalities to meet uprising demand by Healthcare providers,” said Mr. Suresh Venkatachari, Chairman and Managing Director, 8K Miles Software Services Ltd.

Revenues went to Rs 125.14 crore during the fiscal under review from Rs 44.10 crore in 2013-14 while PAT improved from Rs 7.43 crore to Rs 23.09 crore for the same period. For the Q4, the company recorded 25.53% increase in revenues and 16.95% hike in PAT. The EBITDA stood at Rs 12.84 crore, registering 18.71% rise on Q-o-Q basis, according to the results.

Apart from the launch of new product, the company acquired Mindprint, a Canadian company specialized in providing SaaS analytics and operational software to Clinical Research Organizations in North America during the quarter. Earlier in the year, it had acquired SERJ Solutions, a company specialized in providing Epic EHR consulting, managed services and custom application development aimed to enhance the domain and cloud offering for Healthcare providers.

It had also entered into a Premier Partnership with CA Technologies to offer Identity and Access Management as a service on AWS cloud, apart from securing multiple customers especially in the healthcare/pharmaceutical sector.

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