Pentasoft Sept Net Plummets 73 Per Cent

Chennai-based Pentasoft Technologies Ltd today announced substantially reduced turnover and profit figures for the quarter ended September 30, 2002.

Turnover for the quarter came down around 41 per cent to Rs 85.45 crore from Rs 133.09 crore for the same period last year representing a 35 per cent dip.

Net profit for the quarter plunged 73.81 per cent to Rs 6.97 crore from Rs 26.61 crore for the same period last year representing a 74 per cent drop.

Operating profit for the quarter plummeted to Rs 32.12 crore as against Rs 56.24 crore for the same period last year.

The company said that the quarter saw the addition of 7 new clients while overseas revenues contributed 94 per cent of the revenues and domestic sales contributed 6 per cent.

 

The company said that it has added 16 new customer in the first half of the year. For the half year ended September 30, 2002, the sales and service from overseas operations remained the same, while the operating margin at 40 per cent was also flat.

Subsidiaries of Pentasoft Technologies contributed 36 per cent of the total business generated, while in the domestic business training initiatives of the company contributed 6 per cent.

In the export business software services contributed 73 per cent, engineering 14 per cent and international learning services contributed 7 per cent.

The profit after tax percentage for the half year ended September 30, 2002 stood at 10 per cent compared to 20 per cent for the corresponding period of the last year, mainly on account of expenses towards full and final settlement for the employees working on-site in different countries.

Pentamedia allotment

Our Corporate Bureau in Chennai

The board of directors of Pentamedia Graphics Ltd has approved the allotment of 64,800,000 (64.80 million) GDRs underlying equity shares having par value of Rs 10 per share to the company