Megasoft Ltd, which provides technology platforms to telecom companies, posted a loss of Rs 3.18 crore in the third quarter ended September 30 against a profit of Rs 3 crore in the corresponding quarter last year. The revenue of the company fell to Rs 27 crore (Rs 34 crore) in the quarter. Earning per share dropped to minus 73 paise against 69 paise in the comparable quarter.
Net profit for the nine-month period fell to Rs 88 lakh from Rs 14.76 crore in the comparable period last year. Revenue too fell to Rs 86 crore (Rs 114.63 crore) in the nine-month period. For the financial year ended December 31, the company posted revenue of Rs 150 crore and a net profit of Rs 17.50 crore.
“The nine-month period in 2012 has been tough. While we managed to stay operationally cash positive and build a good pipeline for its products and solutions, capital expenditure is witnessing a slowdown, resulting in slower uptake for company’s new products and applications,” CEO and Managing Director G.V. Kumar said. “We are planning to focus on small carrier infrastructure and retail mobile commerce segments, while maintaining a close watch on cash flows and costs,” he said.
Keywords: Megasoft Q3 results