Chennai: TAKE Solutions Ltd., a global business technology solutions provider with significant focus across two principal business areas, namely Life Sciences (LS) and Supply Chain Management (SCM) domains, today, announced the financial results for the first quarter of FY 2015. The Company has posted revenue of INR 1,615 million for this quarter, a 17.5% decline over the corresponding quarter of the previous year as the result of a strategic decision to divest in businesses that are not expected to add long term value to the Company.
Srinivasan H.R., Vice-Chairman and Managing Director, TAKE Solutions said, “In line with our strategy outlined at the start of FY 14, we are witnessing a positive impact on the growth of the Life Sciences business. This growth can be attributed to an improvement in the funding environment for biotechnology companies and an increased focus on enhancing drug development efficiency. Due to these changing dynamics, revenue from continuing business has registered a healthy growth and the margins have improved. However, the decline in revenue was due to a divestment in the Supply Chain business.” He further added, “We continue to streamline our businesses to improve profitability and increase our investment in understanding the best market opportunities and clients’ needs. This will enable us to achieve a strong position in the LS and SCM businesses.”