Lanco Global net up 208 per cent

Its turnover during the quarter under review stood at Rs 85.23 crore, an increase of 114.84 per cent, over Rs 39.67 crore during the same period last year. EPS was at Rs 5.07, as against Rs 1.65.

For the full year, LGS' net profit grew 298.94 per cent to Rs 33.91 crore, as compared with Rs 8.5 crore last year, while the turnover touched Rs 262.43 crore, as against Rs 78.25 crore, an increase of 235.37 per cent. EPS for the full year was at Rs 13.34, as compared with Rs 3.35 last year.

"We have adopted a virtual office concept, whereby we moved more business from offshore to onshore, which reflected on our revenue growth and improved profitability. Besides focusing on the US, we entered the Europe and West Asian markets in the area of business intelligence, capturing significant size of the market," Anand Swaroop, director and CEO of LGS, told Business Standard.

During the 2007-08 fiscal, LGS added two big ticket clients from the US, each bringing in $5-million (Rs 20 crore) orders, besides two $2-million (Rs 8 crore) and four $1-million (Rs 4 crore) orders from Europe and West Asia respectively, he added.