Megasoft net up 17% to Rs 9.45 crore

Megasoft has recorded an increase of 17 per cent in net profit at Rs 9.45 crore for the quarter ended June 30 compared with Rs 8.07 crore in the corresponding quarter last year on a consolidated basis.

Revenues grew 59 per cent to Rs 60.11 crore (Rs 37.72 crore). The company's telecom revenues for the quarter stood at Rs 24.49 crore (Rs 13.83 crore), an increase of 77 per cent.

"The profit growth during the quarter got a push on the back of our increased telecom revenues compared with services business. Profits, however, were hit by Rs 4 crore due to margins coming under the rupee-dollar pressure, which should otherwise have been Rs 13.5 crore for the quarter," GV Kumar, managing director and chief executive of Megasoft, said.