Financial Daily from THE HINDU group of publications
Tuesday, Jul 20, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 20, 2004 |
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Info-Tech
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Financial Performance Corporate Results - Software Teledata Q1 net soars 361 pc to Rs 10.97 cr Our Bureau
Mr K. Padmanabhan
Chennai , July 19 TELEDATA Informatics Ltd has recorded a 361 per cent rise in net profit to Rs 10.97 crore for the quarter ended June 2004 from Rs 2.38 crore in the same quarter last year. Net sales grew 570 per cent to Rs 44.98 crore (Rs 6.72 crore). Speaking to newspersons, Mr K. Padmanabhan, Managing Director, said that recently opened offices in other countries helped the company increase overseas sales of its software for the marine engineering industry. "In this business of selling software to the marine segment, the first sale takes some time. After that orders flow in. Hence, the sudden spurt in revenues for the quarter (under review)." The company has a presence in 10 countries including the Netherlands, Greece, Cyprus, Thailand, Singapore and the US. Teledata spent nearly Rs 21 crore in the quarter towards software purchases. Mr Padmanabhan said, "This is a one-off purchase that we made from a US entity. This is customised software and the intellectual property belongs to Teledata." The company has two joint ventures - one each with the Singapore and Thailand Governments. The former sells software to the marine segment while the latter sells learning management solutions. Both ventures focus on sales in Asia. The Singapore venture has also set up a base in Shanghai. According to Mr Padmanabhan, Teledata expects to end the year with Rs 215 crore in revenues. Of this, 45 per cent would come from sale of software products to the education segment and about 38 per cent from sales to the marine segment. A total of 550 ships currently use Teledata's software. Of these, 150 ships signed on in the quarter under review. The company recently secured its first Indian order in the education business from the Nagaland Government. The contract is currently valued at Rs 2 crore. Teledata is on the lookout for acquisitions in the areas of software for the education, marine and utilities businesses. The third is a new area that the company is looking at.
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