The Hindu Business Line : Sasken develops key component for satellite

Bangalore, Jan. 25 Sasken Communication Technology Ltd said it has had a ‘large’ break into the tier one space segment. The Senior Vice-President (Global Business Operations) and Chief Marketing Officer, Mr Swaminathan Krishnan, told Business Line that Sasken has developed an important component for a satellite. He declined further comment on the space deal.

The communications solutions company, which reported its third-quarter results on January 19, said in a statement profit after tax was Rs 3.8 crore, compared with Rs 12 crore in the year-ago period. Mr Krishnan said the strong growth of the rupee against the dollar hurt its earnings. He said the company would be improving utilisation and the average cost of compensation to deliver the requisite profit growth. It would be an ongoing process, he added.

For the third-quarter, Sasken’s revenues from telecom software products grew 129 percent to Rs 9.5 crore. However, it declined five percent sequentially. Revenue from telecom software services grew 4 per cent to Rs 131.6 crore year-over-year.

Amortisation for the quarter was Rs 3.5 crore, an increase of 547.4 percent year-over-year, the company said in a statement.

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