Infotech companies log in record first half results

Similarly, Mastek posted a profit after tax of Rs 5.72 crore for the first quarter ended September 1999 as against Rs 62 lakh in the corresponding period of last year. Mastek posted a revenue of Rs 22.29 crore, as against Rs 12.12 crore in the previous year, a Mastek statement said.

During the second quarter, Satyam registered an income of Rs 157 croreas against Rs 91.8 crore, an increase of over 71 per cent. The company also announced an interim dividend of 15 per cent on a Rs ten per share. Income from software exports shot up to Rs 154 crore compared to Rs 91 crore for the period under review. The total expenditure rose to Rs 95.9 crore compared to Rs 56 crore during the same time.

The first half of the company’s financial year 1999-2000 saw Rs 56.5 crore against Rs 33.7 crore in the same period last year. The results are not comparable with its previous first half as during the July-September quarter the company was merged with Satyam Enterprises Solutions, Satyam Renaissance Consulting and Satyam Sparks Solutions.

In April-September, Satyam posted an income of Rs 294 crore as against Rs 171 crore in the same period last year. Satyam’s scrip was down Rs 33 at Rs 1,385 following its July-September results which were broadly in line with market expectations. But a whopping 309 per cent rise in the second quarter earnings of Polaris Software pushesits shares up Rs 44 to Rs 879.

On the other hand, VMC Software Ltd has increased its total turnover by 259 per cent to Rs 204.51 lakh during the half yearly ending on September 30, 1999 as compared to the previous year’s Rs 56.93 lakh. The company’s net profit also jumped by 195 per cent to Rs 141.41 lakh as against a net profit of Rs 47.90 lakh during the previous half-year.

For Mastek, the USA continued to the biggest revenue centre with an income of Rs 38.86 crore, Europe contributed Rs 19.96 crore and Asia-Pacific Rs 1.39 crore. Revenue form Asia Pacific and US operations have registered a significant jump at 135 per cent and 126 per cent respectively. Overall, export revenue grew by 86 per cent over the same quarter last year.

Zee posts higher H1 profits

MUMBAI: Zee Telefilms Ltd (ZTL) has posted a higher net profit of Rs 37.01 crore during the half-year ended September 1999 as against Rs 27.69 crore in the same period of last year. Total income during the half year rose to Rs 128.69 crorefrom Rs 104.78 crore previously. The gross profit during the period went up to Rs 49.82 crore from Rs 37.82 crore.

The net profit during the second quarter ended September 1999 amounted to Rs 20.06 crore from Rs 15.67 crore. Total income for Q2 rose to Rs 65.32 crore from Rs 56.50 crore.