The Hindu Business Line : Aztec Soft Q3 net up 12 pc

Aztec Software has reported a consolidated net profit of Rs 11.15 crore on revenues of Rs 71.34 crore for the quarter ended December 31, 2006, representing a year-on-year growth of 12 and 35 per cent respectively over the corresponding last quarter.

On a sequential basis, the revenue growth in rupee terms was at 5.04 per cent and 8.57 per cent in dollar terms, while the profit growth declined marginally by 2.7 per cent.

Aztec added 11 new clients in Q3 to increase its overall client base to 89. Some of the new clients were in data management, wireless and other domains. Tracking the results, the Aztecsoft stock fell by eight per cent to close at Rs 148.75 on the BSE.

"Our business growth has been good and we have been able to continue the trend in opening new accounts. However, the sharp exchange rate movement during the quarter impacted profitability," said Mr V. Chandrasekaran, Managing Director and CEO of Aztecsoft.

Aztecsoft continued with its offshore focus during the quarter.

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