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Our Bureau

Mr Arun Kumar

New Delhi , May 5

FLEXTRONICS Software Systems Ltd (FSS) today posted a 42-per cent rise in its consolidated net profit for the fourth quarter ended March 31, 2005 at Rs 30 crore against Rs 21.2 crore in the corresponding period of the previous year.

During the quarter, its sales grew 28 per cent on consolidated basis to touch Rs 130.1 crore as compared to Rs 101.9 crore in the year-ago period, FSS' President and Managing Director, Mr Arun Kumar, said at a conference in Gurgaon, near Delhi.

The consolidated numbers include the performance of FSS along with its subsidiary, Tenet Technologies.

During the quarter, FSS added 12 new customers for products and services. The overall utilisation in IT services business continued to remain strong at 92 per cent. The services business grew sequentially by 11 per cent during the quarter due to ramp up in relationships with key accounts and from new clients.

For the financial year ended March 2005, FSS' consolidated net profit stood at Rs 107.8 crore, up 40 per cent over the previous year. Total income rose 33 per cent to Rs 490.3 crore.

The company's operating capex for the year 2005-06 is pegged at $9 million, Mr Arun Kumar said.

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