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BANGALORE: Scandent Solutions Corporation Ltd announced a 5 per cent growth in net profit for the quarter ended December 31, 2005 at Rs 8.5 crore over the same quarter last year. Revenues for the quarter were up 20 per cent at Rs 84.4 crore.

Sequentially, net profit was up by 1 per cent, while revenues were up by 6 per cent. This is the sixth quarter of sequential growth in revenues and operating income after the company consummated its merger with the IT division of SSI Ltd, the company said in a press release.

The three core verticals - - banking, financial services and insurance (BFSI), government and manufacturing & logistics - - contributed 25 per cent, 21 per cent and 54 per cent of the quarter revenues respectively. The US operations contributed 70 per cent of the total revenues, with its Asia-Pacific revenues at 14 per cent and Europe at 16 per cent.

The company has been successful in increasing its operating margins on a sustained basis over the last 6 quarters. The operating margins have improved from 14 per cent in December 2004 to 16 per cent in December 2005.

The company added 18 new clients during this quarter and the number of clients with an annual revenue run rate tracking at greater than $1 million increased to 16 from 15 in the previous quarter.

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