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News >> Technology >>
CalSoft posts Rs 9.63 M profit in Q1
By agencies
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Monday, 01 August 2005, 19:30 IST
CHENNAI: California Software Ltd, the Chennai-based software firm, has reported a net profit of Rs 9.63 million for the quarter ended June 30. Revenues for the quarter increased to Rs 66 million.
The company's total consolidated revenue, including Indian operations and subsidiaries, was Rs 2.1 billion for the first quarter of the current fiscal.
Consolidated net profits after taxes and minority interest adjustments were Rs 5.8 million.
This is the first year that the company is compiling and reporting consolidated results on quarterly basis and hence prior year comparisons are not available for the consolidated results, says a company press release.
"At this pace we are on course to achieve a significant milestone of group revenues of about Rs 1 billion in current fiscal," the company's Chief Financial Officer, K.N. Nayak, said in the release.
The company informed the Bombay Stock Exchange that a meeting of its board of directors would be held on August 6 to consider raising additional funds through various options, including rights issue, global depository receipts and other instruments such as preferential allotment.