Business Daily from THE HINDU group of publications
Tuesday, Jul 15, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Jul 15, 2008 ePaper | Mobile/PDA Version | Audio |
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Info-Tech
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Financial Performance Corporate Results - Software Tanla Q1 net rises 70% 
Our Bureau Hyderabad, July 14 Tanla Solutions registered total revenues of Rs 168.86 crore with a net profit of Rs 56.41 crore for the first quarter ended June 30, reflecting an increase of 78.68 per cent in revenue (over Rs 94.51 crore) and 69.60 per cent in net profit (Rs 33.23 crore) over the corresponding quarter last year. For the fiscal ended March 31, 2008, the company had revenues of Rs 477.17 crore with a net profit of Rs 163.10 crore. ‘Exciting quarter’The Chairman and Managing Director of Tanla, Mr Uday Reddy, in a statement said “The last quarter was exciting and included the acquisition of Openbit, which gives us a global footprint and access to millions of handsets to enable device payments.” The focus was on full integration by this quarter, even as the aggregator platform has already been synchronised with Openbit. The company is looking at organic growth in new geographies, Mr Reddy said. The company had acquired 85 per cent stake in Finland-based Openbit for $15.81 million. It added 18 new content provider clients in the UK and Ireland and 20 in India. M-Raga dealThe company also signed up for M-Raga, a mobile radio service for Airtel in two circles to be launched in the second quarter. During the quarter, the company incorporated subsidiaries in Malaysia, Sri Lanka, South Africa and Finland. Tanla shares ended the day lower at Rs 215.70 as against previous close of Rs 225.70 on the National Stock Exchange. Tanla Mobile’s online guide Tanla solution for Outcast TV Tanla revenue, profit up in Q3 More Stories on : Financial Performance | Software
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