Financial Daily from THE HINDU group of publications
Thursday, Jul 21, 2005
Financial Daily from THE HINDU group of publications Thursday, Jul 21, 2005 |
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Info-Tech
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Financial Performance Corporate Results - Software Geometric Soft net rises 46 pc in Q1 Our Bureau
Mumbai , July 20 GEOMETRIC Software Solutions company Ltd has reported a 46 per cent year-on-year growth in net profit for the quarter ended June 30. Net profit for the quarter amounted to Rs 5.07 crore, against Rs 3.46 crore during the corresponding year-ago quarter. Total income rose over 40 per cent to Rs. 31.65 crore, up from Rs. 22.53 crore. The consolidated net profit for the quarter increased 53 per cent to Rs. 7.79 crore, compared to Rs 5.10 crore for the corresponding quarter last year. The consolidated revenue increased 51 per cent to Rs 55.69 crore (Rs 36.98 crore). However, on a sequential quarter-on-quarter comparison, consolidated revenues grew 6 per cent, with net profit declining 4 per cent. Commenting on the results, Mr Manu Parpia, Managing Director, said, "Clearly, the quarter results are not satisfactory. We remain confident of our strategy and direction and the quarter represents a temporary setback." Margins were affected by a drop in revenue when compared to the budget, resulting in lower utilisation. This was aggravated by unforeseen cost increases such that on the use of diesel for power generation in Pune, on salaries and software tool expenses, said a statement from the company.
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