Megasoft, which helps mobile operators and businesses launch technology-based value-added services, will focus on near field communications (NFC) this year, the emerging communication technology that promises to change the way people interact and buy things.
The company is doing pilots in the US and Latin America. It has recruited 18 Spanish-speaking people at its Hyderabad facility to support the drive in Latin America. “We have closed a few deals there. We are planning to add 100 more Spanish-knowing employees to support the business,” Mr G.V. Kumar, Chief Executive Officer of Megasoft, told Business Line .
NFC made inroads into Japan, allowing people with NFC-enabled phones and other devices to communicate, pay utility dues, buy tickets at railway stations and download telecom products at shopping malls.
The company, which follows January-December financial year, saw a decline of 7.8 per cent in revenues in the first nine months at Rs 114.63 crore (Rs 124.30 crore) and decline of 4.4 per cent in net profit at Rs 14.76 crore (Rs 15.44 crore).
The company, which attributed the fall in revenues to lower contribution from pre-paid market in the US, saw a growing interest in NFC. “Besides facilitating more convenient people-to-people communication in a more secure way, NFC will drive mobile payments and security applications,” he said.
Max C
The company has launched a business avenue called Max C that will help telecom operators and retailers set up mobile application stores. It would offer testing, certification and deployment solutions in this area. It invested $4million of late, including $1 million for Max C infrastructure.
Megasoft, which had sold to clear debts, now has term loans of $10 million (down from $30 m). “We are planning to clear this in 12-15 months,” he said.
He said the company had no plans to sell stake or invite investments. kurmanath@thehindu.co.in