The Hindu Business Line : VisualSoft Q4 income up 23%

VISUALSOFT Technologies Ltd has recorded total income of Rs 42.03 crore with a net profit of Rs 8.52 crore for the fourth quarter ended March 31, reflecting a 22.58 per cent growth in total income and marginal 1.17 per cent in net profit over the corresponding quarter last year.

For the financial year ended March 31, the total income stood at Rs 155.56 crore with a net profit of Rs 37.59 crore as against total income of Rs 126.61 crore and a net profit of Rs 32.22 crore for the previous financial year.

Sequentially, while the total income was higher by 3.93 per cent, the net profit was down 19.07 per cent to Rs 8.52 crore as against Rs 10.53 crore for the quarter ended December 31, 2003.

The VisualSoft Vice-President Finance, Mr V. Krishnan, in a press release said, the company recorded a consistent pattern in its solutions business by achieving a top line growth of 26 per cent during the year as against the 20 per cent growth guidance announced. Products contributed 3 per cent of the total revenue.

In Q4, the company added five clients. Last month, it set up a 500-seater BPO centre in Hyderabad and entered into a pact with a service provider in the US for offering services in transactions processing, tech support and market research. The board of directors decided to delist shares from Ahmedabad, Bangalore and Hyderabad stock exchanges and induct Mr V.S. Raju as Additional Director.