Flextronics Software Q4 net rises 42 %

By agencies   |   Friday, 06 May 2005, 19:30 IST
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NEW DELHI: Flextronics Software Systems has posted a 42 percent rise in its consolidated net profit for the fourth quarter ended March 31, 2005 at 300 million against 212 million in the corresponding period last year. During the quarter, its sales grew 28 percent on consolidated basis to touch 1.3 billion as compared to 1.1 billion in the year ago period, Flextronics Software President and Managing Director Arun Kumar said. The consolidated numbers include the performance of Flextronics Software and its subsidiary Tenet Technologies. During the period, Flextronics software added 12 new customers for products and services. The overall utilization in IT services business continues to remain strong at 92 percent. The services business grew sequentially by 11 percent during the quarter due to ramp up in relationships with key accounts and from new clients. For the financial year ended March 2005, Flextronics Software’s consolidated net profit stood at 1.78 billion, up 40 percent over the previous years. Total income rose 33 percent to 4.9 billion. The company’s operating capex for the year 2005-06 is pegged at $9 million, Arun Kumar said.