Aztec net up sharply

Aztec Software & Technology Services Ltd has registered a 492 per cent increase in net profit to touch Rs 3.85 crore for the quarter ended 30 September 2004, compared to the corresponding period last year. For the same period, the company's revenue has grown by 107 per cent to touch Rs 20.31 crore.

On a sequential quarter-on-quarter basis, Aztec has registered an increase of 37 per cent and 26 per cent in net profit and revenues, respectively.

According to K B Chandrashekar, chairman of Aztec, "The momentum and pace shown in the last few quarters will continue and impact our numbers. We will further address another important need of our customers""independent testing."

The company recently acquired Disha Technologies, a software product testing company, in a deal comprising $9.6 million in cash and $2.5 million in stock. This deal is expected to be completed in November 2004.