Zen Tech Q4 net up 17% at Rs 35 M

By agencies   |   Wednesday, 01 June 2005, 19:30 IST
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HYDERABAD: Zen Technologies Ltd, the Hyderabad-based software services and products company, has recorded total income of Rs 96.9 million with a net profit of 34. 9 million for the quarter ended March 31, as against a total income of Rs 52.9 million and a net profit of 29.8 million for the corresponding quarter last year. For the fiscal ended March 31, the company's total income was Rs 194.1 million with a net profit of Rs 64.2 million as against a total income of Rs 123.5 million and a net profit of Rs 61.0 million for the pervious fiscal. The company board has declared a dividend of 15 percent. The Managing Director of Zen Technologies, Ashok Atluri, in a statement, said "There is a change in accounting policy relating to the treatment of revenue and R&D expenditure. Revenue from R&D and expenditure from the financial year 2004-2005 is being charged to the profit and loss account of the year in which it has occurred. The amount so charged in 2004-2005 is Rs 8.97 million and the profit after tax is lower to that extent. "The deferred R&D expenditure of earlier periods continues to be amortized over a period of three years as per earlier policy."