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Thursday, Jan 10, 2002

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DSQ posts net loss of Rs 17.93 cr

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CHENNAI: DSQ Software Ltd has reported a net loss of Rs 17.93 crore for the quarter ended December 31, 2001, as against a net profit of Rs 31.73 crore for the corresponding quarter last year.

Income from software services dropped by around 65 per cent to Rs 40.23 crore during the quarter ended December 31, 2001, as against Rs 116.78 crore during the corresponding quarter last year. Staff cost decreased by around 45 per cent to Rs 25.51 crore (Rs 46.49 crore), other expenditure was Rs 10.50 crore (Rs 25.91 crore), total expenditure Rs 36.01 crore (Rs 72.40 crore) and depreciation Rs 18.95 crore (Rs 14.85 crore).

For the previous accounting year ended December 31, 2000 (18 months, audited), the company reported a net profit of Rs 126.87 crore, on a total income of Rs 528.51 crore. The company has said that out of the Rs 40.23 crore revenues, the US contributed Rs 18.23 crore, Europe Rs 12.54 crore and the rest of the world Rs 9.46 crore.

Meanwhile, as per SEBI (Securities and Exchange Board of India), the company's board has cancelled the acquisition of Fortuna Technologies, US. The paid up equity share capital will be reduced on completion of legal formalities, the company has said.

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