Geometric Software announces Q1 results

Geometric Software Solutions Company Ltd has announced the following Audited Results for the quarter ended June 30, 2006:

The Company has posted a profit after tax of Rs 63.05 million for the quarter ended June 30, 2006 (Q1 FY 06-07) as compared to Rs 50.72 million for the quarter ended June 30, 2005 (Q1 FY 05-06). Total Income has increased from Rs 316.48 million in Q1 FY 05-06 to Rs 412.85 million for Q1 FY 06-07.

The Consolidated Results are as follows:

The Group has posted a net profit after minority interest of Rs 63.45 million for the quarter ended June 30, 2006 (Q1 FY 06-07) as compared to Rs 77.94 million for the quarter ended June 30, 2005 (Q1 FY 05-06). Total Income has increased from Rs 556.91 million in Q1 FY 05-06 to Rs 691.56 million for Q1 FY 06-07.

Commenting on the Company´s performance in Q1, Manu Parpia Managing Director, said: "We have seen success in our strategy to add new offering to the markets we address at the same time adding to the market we address. We are also cognizant of the volatility our forex cover policy has on our quarterly earnings and we are modifying our approach to covers in line with expected trends. Overall a quarter wherein we have shown satisfactory progress but could have done even better were in not for resource constraints."

Source : Equity Bulls

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