Geometric Software Q1 net rises 41.86% to Rs.89.43 Million

Geometric Software Solutions Company Ltd has announced the Audited financial results for the quarter ended June 30, 2007.

The Company has posted a net profit after taxes of Rs 89.43 million for the quarter ended June 30, 2007 as compared to Rs 63.04 million for the quarter ended June 30, 2006. Total Income has increased from Rs 412.84 million for the quarter ended June 30, 2006 to Rs 513.90 million for the quarter ended June 30, 2007.

The Consolidated results are as follows: The Group has posted a net profit after minority interest of Rs 116.54 million for the quarter ended June 30, 2007 as compared to Rs 63.44 million for the quarter ended June 30, 2006. Total Income has increased from Rs 691.57 million for the quarter ended June 30, 2006 to Rs 1264.35 million for the quarter ended June 30, 2007.

Commenting on the results, Dr. Ravi Gopinath, CEO and MD said, "The marginal drop in our revenues on a sequential basis is the outcome of a lengthy sales cycle, project startup delays and our emphasis on securing business directly. However the combined value proposition of our extended PLM and global engineering offerings is demonstrating very good traction and we have closed new direct business of over 5 Million USD in Q1. This will manifest itself as billing in the next few quarters. The elements of our 3 year strategy are being implemented aggressively and the management team is focused on driving performance improvement across our operations".

The stock was trading at Rs.121.10, down by Rs.4.45 or 3.54%. The stock hit an intraday high of Rs.126.25 and low of Rs.120.20. The total traded quantity was 28566 compared to 2 week average of 34001.

Source : Equity Bulls

Keywords