Aztecsoft Q3 net up 12% at Rs 11cr

Software product engineering service provider Aztecsoft today posted a consolidated net profit of Rs 11.15 crore in the quarter ended December 31, 2006 (Q3FY07), up 11.94% over Rs 9.96 crore recorded in the year-ago period.

According to a company statement to the National Stock Exchange, revenues on consolidated basis rose to Rs 71.34 crore in the latest quarter, up 34.65% from Rs 52.98 crore posted in Q3FY06.

"Our business growth has been good and we have been able to continue the trend in opening new accounts. However, profitability has been mainly impacted by the sharp exchange rate movement during the quarter," V Chandrasekaran, managing director & CEO, Aztecsoft said.

The company's foreign exchange gain for the latest quarter stood at Rs 55 lakh, while it had dipped Rs 44 lakh in Q3FY06.

Aztecsoft added 11 new clients in the December quarter taking the total active client count to 89, while its manpower stood at 2,682 at the end of December 31, 2006 - registering a 42% growth as against 1,890 employees at the end of December 31, 2005.