Sasken net slumps 42% to Rs 6.29 cr

CORPORATE SCORECARD

Sasken Communication Technologies Ltd (Sasken) posted a decline of 42 per cent in its net profit to Rs 6.29 crore for the fourth quarter of the financial year 2005-06. The net profit for the same period last year was Rs 10.94 crore.

For the quarter ended March 31, 2006, the company's consolidated revenues rose 4.69 per cent to Rs 78.05 crore from Rs 74.55 crore posted in Q4 of 2004-05. For the year ended March 2006, the consolidated revenues grew 27 per cent to Rs 308.13 crore from Rs 241.77 crore for the full 2004-05.

Sasken's profit after tax for the year rose a marginal 1 per cent to Rs 22.92 crore after an exceptional item, compared with Rs 22.78 crore posted for the full year last year.

Commenting on the performance, Rajiv Mody, chairman and CEO, Sasken, said, "Our services business has recorded an annual growth of 35 per cent. This has been backed by a healthy increase in annual utilisation rate to 76 per cent from 64 per cent, resulting in EBITDA from services moving up 57 per cent annually."

The Sasken board of directors has recommended a dividend of Rs 3 a share on the company's equity capital for the financial year ended March 2006, subject to the approval of the shareholders.

During the year, the company incorporated a development centre in China. In Q4, it added 203 people, taking its total workforce to 2,575.