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SSI records stable revenues
By siliconindia
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Tuesday, 04 February 2003, 20:30 IST
CHENNAI: SSI Ltd., has announced its unaudited financial results for its second quarter ended December 31, 2002. It has earned 33 percent from its education and training business whereas the consulting and software services contributed 67 percent to its operation revenue.
The revenue generated from education and training segment in the corresponding quarter last year was Rs 31.06 crore (Q2FY02) and that for previous quarter (Q1FY03) was Rs 21.13 crore. Whereas this quarter registered only Rs 19.08 crore (Q2FY03). The software services segment observed a slight growth of Rs 39.43 crore in this quarter whereas it was Rs 35.02 crore in the corresponding quarter last year and Rs 38.45 crore in the previous quarter.
Commenting on the results, Kalpathi S Suresh, Chairman and CEO, SSI Ltd. said, "Both training and software services revenues continue to be stable on a quarter-on-quarter basis. If you discount seasonal fluctuations, the training market is showing the fourth consecutive quarter of gradual improvement. In software services, we expect to see benefits from the outsourcing trend to India."
The operating profit (EBITDA) margin in the education and training business was 10.3 percent in Q2FY03 compared to 11 percent a quarter ago and 12.21 percent a year ago. At the end of the quarter, SSI had 114 active clients, including nine added during the quarter.