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Our Bureau

Mumbai , June 13

GEOMETRIC Software Solutions Company Ltd has lowered its profit guidance by 5-8 percentage points for the first quarter of the current fiscal due to a delay in some of its projects.

"After 10 straight quarters of quarter-on-quarter growth, I have to report that consolidated revenues will show a decline this quarter over the previous quarter," the company's Managing Director, Mr Manu Parpia, said in a release.

"Unfortunately, the commencement date of several projects has been shifted to the next quarter. The effect of this has been compounded by a delay in completing a major fixed price project, making it ineligible for revenue recognition," the release added. This has affected the company's utilisation levels.

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