Digital's Q3 net profit up 32%

By siliconindia staff writer   |   Tuesday, 13 January 2004, 20:30 IST
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BANGALORE: Software services firm, Digital GlobalSoft Limited posted a revenue growth of 46 per cent for the third quarter ended December 31st 2003 as against the corresponding period last year. Revenues touched Rs 165.3 crore, while Profit After Tax (PAT) was recorded at Rs 35.6 crore, a 32 per cent jump from a year ago period. Sequentially revenue grew by 10 per cent while profit scaled by 11 per cent. Services business grew by eight per cent this quarter as against the pervious quarter posting Rs 138 crore, while the Digital Contact Center business jumped by 40 per cent, sequentially to register Rs 22.3 crore. The HP business recorded a 55 per cent jump in comparison to the previous year to record Rs 121.9 crore. HP had announced its intention to raise its stake in the mid-sized Indian software services firm to 100 per cent by buy back options of the shares. The plan is to merge a division of the HP Indian Software Operations (HPISO) along with Digital GlobalSoft. Ina joint statement, Peter Mercury, Chairman and Som Mittal, President and CEO of Digital GlobalSoft, said, "We are pleased to report a good performance for the quarter under review. The IT Services sector continues to provide new opportunities and pose fresh challenges on an ongoing basis. It is our endeavor to capitalize on these opportunities and given our operating strength and parentage, we are confident of facing challenges to achieve further progress in the future." From an operating standpoint, the company added 449 people during the quarter, taking its total workforce strength to 4889 people. 238 people were added to the contact center business during the quarter taking the total size of DCC operation to 2135 people. The statement also mentioned that the construction and implementation of Phase III at Digital Park remains on schedule. An employee center and two of the ‘Fire’ software blocks will be ready for occupation by end of current financial year adding 850 more seats at the campus facility. (Source: CIOL)