Pentafour net up 74%, announces bonus

MUMBAI, APR 28: Pentafour Software and Exports Ltd has announced a 74 per cent surge in net profits at Rs 119.1 crore for 1998-99 and rec...

MUMBAI, APR 28: Pentafour Software and Exports Ltd has announced a 74 per cent surge in net profits at Rs 119.1 crore for 1998-99 and recommended a 1:1 bonus issue for its shareholders.

The company’s turnover grew 85 per cent during the year to Rs 525.68 crore as against the previous year’s Rs 284.56 crore, Pentafour Software chairman and managing director V Chandrasekaran said in a release.

The board of directors, which met here, recommended a total dividend of 70 per cent in view of the positive outlook for the current year.

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Chandrasekaran announced that Pentafour was looking at mergers and acquisitions in Asia, Europe and the Far West in a bid to achieve an average growth rate of 50 per cent annually two years from now.

While the multimedia segment contributed 54 per cent to the turnover, the business software segment accounted for 46 per cent of the same.

The company had recently announced a tie-up with Cyber Arrow Technology, a subsidiary of US-based New Media Ventures Partners Inc, to providemultimedia products and services to top clients in the US, Canada and Latin America.

Sources in the LJP (RV) said the names of the remaining 15 candidates would also be announced very soon.

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