Bitten by spending cutbacks from key clients, telecom software and embedded products developer Sasken Technologies saw its profit after tax dropping 74 per cent to Rs 3.9 crore during the fourth quarter ending March 31, 2009, from Rs 14.8 crore a year earlier.

PAT margins during the fourth quarter fell to 2.3 per cent from 9.4 per cent a year ago.

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Consolidated revenues for the fourth quarter were at Rs 168.3 crore, up 7 per cent year-on-year from Rs 157.3crore in the fourth quarter of 2008. On a sequential basis, the topline fell 9 per cent from Rs 185 crore in the December quarter.

Net profit for the full year increased 7 per cent to Rs 42.3 crore from Rs 39.4 crore in the previous fiscal. EBIDTA margins were comfortable at 23.5 per cent from 19 per cent a year ago.

Total revenues in fiscal 2009 from software services and products increased 22 per cent year-on-year to Rs 697.8 crore from Rs 570.21 crore a year earlier.

Revenues from software services during the fiscal was Rs 636 crore, up 21 per cent from a year earlier. Products group revenues touched Rs 61 crore, increasing 34 per cent year-on-year.

Revenue contribution from the Top five customers stood at 66 per cent and from Top 10 customers at 84 per cent.

The company added five new customers during the quarter taking the total number of active customers to 94.

Sasken Chief Executive Officer Rajiv Mody said in a statement that measures taken by the company over the last two quarters to control costs had paid off. “We have achieved reasonable operating margins growth in our service business under challenging conditions,” he said.

The company board recommended dividend of Rs 4 per equity share of Rs 10 each for the financial year amounting to Rs 10.84 crore.

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