Q4 Math Rolls Geometric Soft Down

The Geometric Software counter took a thrashing today on disappointing results which were below market expectations. On the BSE, the scrip ended 12 per cent (Rs 74) lower at Rs 542.45 while on the NSE, it was down 12.27 per cent (Rs 75.50) to Rs 540. While 11,02,965 shares changed hands on the BSE, on the NSE, the scrip witnessed volumes of 23,05,835 shares.

The fall in the scrip was attributed to the poor fourth quarter results posted by the company. For the quarter ended March 31, 2002, Geometric Software registered a 41 per cent fall in net profit to Rs 3.81 crore, compared with Rs 6.44 crore in the corresponding period last year.

 

However, the total income increased by 8.4 per cent to Rs 18.13 crore from Rs 16.73 crore for the corresponding period last year. Analysts had expected Geometric Software to post a net profit of Rs 4.15 crore on net sales of Rs 18.75 crore.

For 2001-02, the company posted a 42.4 per cent rise in net profit to Rs 12.60 crore from Rs 8.85 crore last year.

In 2002-2003, the company on a consolidated basis, expects an average quarter on quarter growth of 10 per cent. The board has recommended a dividend of 30 per cent as against 3 per cent the previous year.

Geometric Software is a leading provider of services and innovative software solutions to mechanical design and manufacturing markets worldwide and has over 2000 man-years of software development expertise.