The Hindu Business Line : Geometric net down 36%

Mumbai, Jan. 14 Geometric Software Solutions, the city based provider of product life cycle management services, has reported a 35.5 per cent fall in consolidated net profit for the quarter ended December 31 to Rs 6.79 crore as compared to Rs 10.54 crore, a year ago.

Total income for this period increased by 13.3 per cent to Rs 126.5 crore from Rs 111.6 crore for the quarter ended December 31, 2006.

On a stand-alone basis, Geometric`s net profit was down by 82.1 per cent to Rs 1.48 crore as compared to Rs 8.29 crore recorded a year ago. Total income decreased by 7.9 per cent to Rs 48.75 crore (Rs 52.98 crore )

The reason behind the net losses in the quarterly numbers could not be immediately ascertained, as the company press release did not contain the required details. Moreover, Dr Ravi Gopinath, CEO and Managing Director of Geometric was not available for comment.

However, analysts feel that the acquisition of US-based Modern Engineering could be one of the factors that impacted the company’s bottom line. In 2006, the company had acquired the engineering division of Modern Engineering for $32 million. “Losses in Modern Engineering are expected to be continued over the next two quarters,” Motilal Oswal Securities had said in a report published in June last year.

More Stories on : Financial Performance | Software

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Lyric Labs sees growing demand for translation

Subhiksha enters telecom retail in AP

Pact on phone bill payment

HC declines to stay spectrum allocation to RCom

A hi-tech bed or LCD movie projector

CMC posts marginal rise in Q3 net

Geometric net down 36%

TVS-E revenues down 32%

TCS board meeting

Sedate numbers from CMC

Intelligroup in Forrester list

‘Job outlook bright in ITeS, telecom sectors’

MIC Electronics to buy 2 firms

Want specific updates? Orglex is here for you

Start-up forum Proto.in begins on Jan 18

BSNL mulls public issue to raise $10 b