Digital clocks 38% rise in profit

The software and services exports revenues for the half year ended 31 December 1999 were up by 21 per cent at Rs 42.8 crore while the net profit for the period jumped by 46 per cent to Rs 14.3 crore. The company says that the present iniatives will lead to stronger growth and a turnover of Rs 500 crore by 2003.

Digital said thatit is changing the financial accounting year with effect from 1999-2000. The current financial year will be for a nine-month period ending 31 March 2000 from June ending previously. The change was effected as a move to align with the Indian reporting practices.

Digital has decided to focus on Internet based solutions and e-applicaion services. It has a strategic agreement with Compaq in form of sourcing software for global use. It also received its first independent business order other than this.

Digital in setting up an additional infrastructure to accomode more employees and is increasing its staff strength to around 422 in diverse areas.