Pentafour profits up 45

MUMBAI, April 28: Pentafour Software amp; Exports Ltd PSEL has achieved a turnover of Rs 284.56 crore for the year ended March 1998, a growth of 67.17 per cent over the previous year8217;s figure of Rs 170.21 crore. About 95.49 per cent comprised exports and the balance was domestic sales.

The board has recommended a final dividend of 32 per cent taking the total dividend declared for the year to 55 per cent interim dividend 23 per cent, reflecting a 22.2 dividend growth. The gross profit has increased by 93.67 per cent to Rs 107.30 crore Rs 55.40 crore and the net profit by 45.63 per cent to Rs 68.37 crore Rs 46.95 crore after providing for higher depreciation and interest. Total expenditure was Rs 158.66 crore Rs 100.61 crore. Interest expense was Rs 24.93 crore Rs 14.82 crore and depreciation amounted to Rs 38.94 crore Rs 8.46 crore.

There was no tax provision since PSEL is a 100 per cent EOU under the STP scheme.

The increase in interest and depreciation reflects the additions to the capitalassets during the year with net block standing at Rs 278.11 crore and changes made to the depreciation policy.