The Hindu Business Line : California Software net up

California Software Ltd, the Chennai-based software company, has reported a net profit of Rs 4.70 crore for the fiscal ended March 31, 2006 compared with a net profit of Rs 3.35 crore for the corresponding fiscal, an increase of 40 per cent . Total revenues more than doubled for 2005-06 to Rs 115.43 crore (Rs 48.86 crore). The company's board of directors has recommended a final dividend of 10 per cent (Re 1 per equity share). This will be payable on the equity capital base, which will enhance by 70 per cent post June 2006 after the rights shares are issued and listed. The company recently made a rights issue of 34.45 lakh equity shares at Rs 66 per share in the ratio of 7:10, which closed on May 25 and was fully subscribed, says a press release.

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