The Hindu Business Line : VisualSoft net at 7.9 cr

HYDERABAD: VisualSoft Technologies Ltd has posted an income of Rs 46.21 crore and a net profit of Rs 7.9 crore during the quarter ended June 30, 2004.

The income has increased by 30.26 per cent but the net profit declined by 12.37 per cent when compared with an income of Rs 35.47 crore and a profit of Rs 9.02 crore registered during the first quarter of the previous year.

As per the unaudited results taken on record by the company's board here on Saturday, the basic earnings per share of Rs 10 each during the first quarter of this year stood at Rs 3.97 against Rs 4.56 in the corresponding quarter last year. The company had started BPO operations from April.

VisualSoft's income through software sales and services accounted for Rs 43.45 crore during the quarter under consideration while it earned only Rs 51.35 lakh from BPO operations. The software segment posted a gross profit of Rs 12.21 crore but the BPO division incurred a net loss of Rs 1.29 crore.

At Saturday's meeting, the board had also considered the audited financial results for 2003-04 and recommended a dividend of Rs 2.50 per share. Last year, the company had posted an income of Rs 155.56 crore and a net profit of Rs 37.56 crore.

The board had decided to convene the company's annual general meeting on September 16.

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