The Hindu Business Line : Aztecsoft Q2 net at Rs 6.9 cr

Bangalore, Oct. 17 Aztecsoft has reported a net profit of Rs 6.93 crore on revenues of Rs 62.01 crore for the quarter-ended September 2007 compared with a net of Rs 11.46 crore on revenues of Rs 67.92 crore in the corresponding quarter last year.

On a sequential basis, the net profits were up 35 per cent while revenues grew five per cent. In dollar-terms, the revenues were up six per cent quarter-on-quarter.

Aztecsoft shares closed lower 4.27 per cent at Rs 60.55 on the BSE on Wednesday.

Margins growth

Tight control over operations and better utilisations helped the company to improve its gross margins by two per cent to 30 per cent, while operating profit margins improved marginally to around 7.4 per cent. The company added 9 new clients and the active clientele stood at 89 and had a forex gain of Rs 2.24 crore.

“Our top 10 clients grew at 10 per cent on a quarter-on-quarter basis. We managed to get good price increases ranging from high single digit to low double digit from about eight out of ten clients,” said Mr Samir Bodas, President of Aztecsoft.

“We have realigned our business strategy that is independent of the present dynamics of the market and have acquired marquee clients during the quarter that would enable us to achieve steady long-term growth,” he said.

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