Scandent net up 5%

BS 200 SCORECARD

Scandent Solutions has reported 5 per cent increase in net profit to Rs 8.5 crore for the third quarter ended December 2005 as compared with the corresponding quarter of the previous financial year. Revenues were up 20 per cent to Rs 84.4 crore during the quarter.

On a sequential basis, net profit nudged up 1 per cent, while the topline improved 6 per cent. Operating income was Rs 13.9 crore, up 1 per cent, compared to an operating income of Rs 13.8 crore for the previous quarter.

The company said this is the sixth quarter of sequential growth in revenues and operating income after the company consumated its merger with the IT division of SSI Ltd.

The company's three core verticals, banking, financial services and insurance (BFSI), government and manufacturing & logistics, contributed 25 per cent, 21 per cent and 54 per cent to the quarterly revenues.

The US operations of the company contributed 70 per cent of the total revenues with its Asia Pacific operations at 14 per cent and Europe at 16 per cent.