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Our Bureau

Hyderabad, April 24 ICSA (India) Ltd posted revenues of Rs 212.03 crore and a net profit of Rs 37.46 crore for the quarter ended March 31, as against total revenues of Rs 101.04 crore and net profit of Rs 18.31 crore for the corresponding quarter last year.

This reflects 109.83 per cent growth in income and 104.56 per cent in net profit respectively.

The company ended the financial year 2008 with total revenues of Rs 677.05 crore and net profit of Rs 126.5 crore as against total income of Rs 333.25 crore and net profit of Rs 58.92 crore for previous fiscal. The revenue was up 103.17 per cent and profit up 114.71 per cent.

The embedded systems group contributed about 65.11 per cent of the total revenue for FY 2008 and 67 per cent during the fourth quarter.

The Chairman and Managing Director of ICSA (India) Ltd, Mr G. Bala Reddy, said that the company expects to maintain similar growth rate going forward and has come out with four more products that would strengthen embedded business offerings.

In a statement, Mr Reddy said that ICSA secured contracts worth Rs 43.97 crore from Northern Power Distribution Company of AP and Transmission Corporation of AP.

The company now has an order book of Rs 900 crore, of which embedded system business is about 60 per cent.

During the quarter, the Government of Singapore, with its sub-accounts, picked up over 5 per cent stake in the company.

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