Zylog Systems Q3 net up 15% at Rs 25 cr

Software solutions provider Zylog Systems today reported a net profit of Rs 24.76 crore for the third quarter ended December 2009, registering an increase of 15.21 per cent, over the year-ago period.

The city-based company reported a net profit of Rs 21.49 crore during the same period of previous year, a company release said.

"Zylog has made significant progress during the previous quarter in revenue generation and profit creation as well as continued to build its market position," Zylog Systems Chairman and Chief Executive Officer Sudarshan Venkataraman said.

However, for the nine-month period ended December 2009, the net profit stood at Rs 65.56 crore registering a dip of 10.74 per cent against Rs 73.45 crore, it said.

The gross revenue for the quarter ended December 2009, stood at Rs 201.65 crore, against Rs 195.47 crore.

For the April-December period, the company reported a gross revenue of Rs 571.68 crore as compared to 553.07 crore, it said.

"In the backdrop of the global economy downturn which is getting deeper and more protracted than expected, the current performance of the company is satisfactory," he added.