Cranes Q2 net up by 55%

Cranes Software, a global scientific and engineering software solutions provider, has reported a 55 per cent increase in its Q2 FY05 net profit to Rs 8.2 crore from Rs 5.3 crore during Q2 of FY04.

The operating revenues has increased by 87 per cent to Rs 36.3 crore for the second quarter of 2004-05 as compared to Rs 19.4 crore Q2 of FY04.

Commenting on the performance Asif Khader, managing director, Cranes Software said: "I am pleased to report another strong set of numbers in the second quarter of the current fiscal year. Our business initiatives are firmly in place and we remain on course to achieving our growth objectives, both for the year as well as over the longer term horizon."

Khader added that over the years, Cranes Software has made several focused initiatives to create leading software products for the global scientist.

"These are now resulting in a spate of achievements that take us ever closer to our global vision. In the reported quarter, Cranes launched Version 9.0 of its data presentation and analysis product SigmaPlot. At the same time, SYSTAT 11.0, the new version of our statistical software launched last quarter received critical acclaim. Overall, our scientific and engineering software products continue to create strong acceptability within the global community of scientist by streamlining their research work across the world."

The company's H1 2005 performance also has appreciated strongly with its net profit going up by 100 per cent to Rs 17.9 crore from Rs 89.5 million reported during H1 of 2004. The operating revenues also went up by 119 per cent to Rs 72.4 crore for H1 of 2005 compared to Rs 32.9 crore during H1 of 2004.