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Hyderabad, Oct. 18

Megasoft Ltd has recorded consolidated revenues of Rs 76.81 crore and a net profit of Rs 16.29 crore for the third quarter ended September 30, 2007 against revenues of Rs 42.92 crore and a net profit of Rs 9.41 crore for the corresponding quarter last year. Last fiscal, the revenues were at Rs 178.33 crore and net profit at Rs 32.64 crore. The Managing Director, Mr G.V. Kumar, said that improved performance reflects the rapid transformation of the telecom business into a h osted model, with more than 65 per cent of revenues coming from long-term contracts with predictable revenue streams. “We are into a strategic restructuring process within the company, which will enable us to target our focus markets even better in the coming quarters,” he said. Megasoft shares ended the day higher at Rs 100.55 on the BSE against the previous close of Rs 92.80. —

Our Bureau

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