Softpro Q3 Total Income up by 374% at Rs 796 lakh

Softpro Systems Limited, which provides Software development services, posted excellent results for the quarter ended December 31, 2009.

Softpro’s total income has increased by 374% when compared with corresponding quarter of the previous year, from Rs 167.71 Lakhs for the quarter ended December 31, 2008 to Rs 795.69 Lakhs for the quarter ended December 31, 2009. Total Income has increased by 135% when compared with corresponding nine months of the previous year, from Rs 449.13 Lakhs for the nine months ended December 31, 2008 to Rs 1053.59 Lakhs for the nine months ended December 31, 2009.

The Company has posted a net profit after tax of Rs 139.20 Lakhs for the quarter ended December 31, 2009 as compared to a Net loss of Rs 72.69 Lakhs for the corresponding quarter ended December 31, 2008. This shows a 292 % increase of PAT over corresponding quarter of the previous year.

Similarly, the Company has posted a net profit after tax of Rs 212.05 Lakhs for the nine months ended December 31, 2009 as compared to Rs 80.53 Lakhs for the corresponding nine months ended December 31, 2008. This shows a 163 % increase of PAT over corresponding quarter of the previous year.

Basic EPS stands at Rs 2.06 per share of Rs.10/- each as on December 31, 2009 as compared to Rs.(-1.21) per share of Rs.10/- each for corresponding quarter of the previous year.

Similarly, Basic EPS stands at Rs 3.22 per share of Rs.10/- each for nine months ended December 31, 2009 as compared to Rs.1.34 per share of Rs.10/- each for corresponding nine months of the previous year.

Commenting on the results, Mr. G. Bala Reddy, CMD, Softpro Systems Ltd said “The results are in line with our target for future growth. The increase in top line and bottom line illustrates our capabilities and the fact that the product and solution offerings we have developed are gaining increasing acceptability. “We hope to sustain the growth pattern in the coming years, thereby maximizing shareholders’ returns.”

About SoftPro Systems
Established in the year 1994, SoftPro is an ERM business solutions provider and an ISO 9001:2000 organization. SoftPro is listed on the BSE and NSE. The company has development center in Hyderabad, India and is in the process of establishing another development center in Visakhapatnam, India.