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Our Bureau

Bangalore, Feb. 1 Overseas income, which recorded a growth of 55 per cent of the total revenues at Rs 86.3 crore, helped Cranes Software report a 39 per cent increase in its consolidated profit after tax at Rs 31.37 crore during the quarter ended December 31, 2007.

The consolidated income from both overseas and domestic business during the quarter was Rs 105.13 crore, an increase of 15 per cent from Rs 91.72 crore. The domestic revenues rose 10 per cent from Rs 15.9 crore to Rs 17.4 crore.

Strong growth in propriety products on both sequential and corresponding quarter basis also boosted its revenue significantly, said a company release.

During the quarter, Cranes acquired Engineering Technology Associates, a Tier-1 vendor to the top three US car manufacturers. With this acquisition, the company has strengthened its foray into the Chinese auto market giving it an access to the established Chinese design centre to leverage its core design testing, virtual simulation and product design skills across a broader range of engineering needs. This acquisition will also enable Cranes to expand distribution of its flagship NISA suite of FEA products.

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