The Hindu Business Line : Geometric Soft Q1 net profit rises 83.7%

Geometric Software Solutions has registered a 83.7 per cent growth in first quarter net profit at Rs 11.65 crore compared with Rs 6.34 crore in the same quarter of the previous year.

The total income grew 82.93 per cent to Rs 126.4 crore (Rs 69.1 crore).

As a result of exchange fluctuations, Geometric reported other income of Rs 12.2 crore, said a company release.

Mr G. Ravishankar, CFO, said, “The company follows the policy of covering a major portion of its foreign exchange earnings, including the highly probable transactions. Significant appreciation of rupee coupled with the company’s policy of accounting for exchange gains on mark to market basis, in line with the ICAI guidelines, resulted in high other income.”

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