The Hindu Business Line : Sasken net grew 93% last fiscal

Bangalore April 20 Sasken reported a 93-per cent rise in its consolidated net profis and a 55 per cent growth in revenues for the year-ended March 31, 2007 over the last year.

The company reported a net profit of Rs 44.3 crore on revenues of Rs 477 crore for 2006-07 as compared to a net of Rs 22.91 crore on revenues of Rs 308.1 crore in the previous year.

For the quarter-ended March 31, 2007, Sasken reported a 86-per cent rise in consolidated net profit at Rs 11.7 crore, while its revenues grew 73 per cent over the corresponding previous quarter to Rs 135 crore.

Dividend

Sasken declared a dividend of Rs 4 per share (40 per cent on par value of Rs 10). Revenue contribution from top five customers stood at 76.3 per cent. The services business delivered 62 per cent growth rate in revenues and crossed a milestone of $100 million in revenues for the full year.

The company added a net total of 107 people to increase the total employee strength to 3,611 as on March 31, 2007. Utilisation on the services side stands at 71.5 per cent for the fourth quarter; for the full year, the utilisation was 75 per cent. Six new customers were added during the quarter; there were 84 active customers during the year.

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