Bangalore, Oct. 28
SASKEN Communications Technologies Ltd has reported a 78-per cent rise in net profit at Rs 11.67 crore on total revenues of Rs 86.39 crore for the quarter ended September 30, 2005 over the corresponding quarter last year.
Revenues from software services stood at Rs 70.8 crore while the products business accounted for Rs 15.5 crore.
For the first half of the current fiscal, net profits were at Rs 16.44 crore on revenues of Rs 154.13 crore, compared to a net of Rs 10.39 crore on revenues of Rs 109.21 crore in the corresponding period last year.
Mr Rajiv C. Mody, Chairman and CEO, Sasken, said, "Our focus on R&D outsourcing in the telecom vertical is paying off. With the aim of connecting all the dots in the telecom value chain, we have been making strategic investments in developing new offerings. This has resulted in our entering the service provider vertical and signing up a marquee tier 1 global customer."
Another key highlight this quarter was the growing of a key tier 1 account into a $20-million plus range in billings. "Our proven ability to work with tier 1 customers has resulted in strong, long-standing customer relationships which we have been able to scale. On a larger plane, this further demonstrates the appetite of global companies to outsource critical R&D work, including product realisation and ownership, to India," said Mr Mody.
The second quarter in FY06 was also important for Sasken as it entered the capital markets through an initial public offer that was oversubscribed 78 times. The company took in 474 people during the quarter, taking the total employee strength to 2,466 as on September 30, 2005.