Sasken FY04 net up 1,341%

By siliconindia staff writer   |   Wednesday, 19 May 2004, 07:00 Hrs
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NEW DELHI: Sasken Communication Technologies on Wednesday reported a whopping 1,341 per cent jump in net profit at Rs 18.3 crore for 2003-04 compared to Rs 1.27 crore in the previous fiscal.

The company posted a 52 per cent increase in revenue at Rs 166.1 crore in fiscal 2003-04 as against Rs 109.3 crore the year before, it said in a release here.

The company has declared a dividend of 25 per cent.

Sasken, a telecom software solutions provider, roped in 24 per cent of the revenues from the products business while services accounted for the rest 76 per cent.

The company hired 586 professionals during the period to take its total strength to 1,437 in 2004 from 851 in 2003. It said it also built two new facilities in Bangalore and a development centre in Pune earlier this year.

Sasken has also set up a subsidiary, Sasken Network Systems, to expand its coverage of telecom market. The subsidiary would provide consultative engineering services for service vendors and network system vendors.

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