Calsoft records rapid growth in profits

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Calsoft records rapid growth in profits

Calsoft records rapid growth in profits. Revenue growth accelerates in H1 by 38%, PAT records 429 % -YOY increase

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California Software Company Limited (Calsoft), today announced that its Board of Directors had taken on record and approved the un-audited financial results for the 2nd quarter (Q2) and First half year (H1 FY08) ended 30^th September, 2007 of financial year 2007-08(FY08).

Healthy Topline Growth

• Consolidated revenues for H1 FY08 were Rs. 113.89 crore, reflecting a  38% growth over revenues in corresponding half-year last fiscal (Rs. 82.40 crore).
• Consolidated revenues for Q2 FY08 were Rs. 59.94 crore, reflecting a 30% growth over the revenues in corresponding quarter last fiscal (Rs. 46.16   crore).  

Profit and EPS growth -quantum acceleration

• For H1 FY08, the consolidated Net Profits after Tax (PAT) at Rs. 7.01 crore­ show a growth of 429% over the corresponding period in the previous fiscal (Rs.1.33 crore).
• For Q2 FY08, the consolidated PAT at Rs.4.83 crore­ shows a growth of 667 % over the corresponding quarter in the previous fiscal (Rs 0.63 crore).
• Consolidated Earnings per share-basic (EPS) for H1 FY08 increased to Rs 7.12 -an improvement of 273 % over corresponding HY1-FY07 last fiscal (Rs.1.91).
• Consolidated EPS for Q2 FY08 increased to Rs.4.55-an improvement of 507% over corresponding quarter -Q2 FY07 fiscal (Rs.0.75). This was earned over enhanced capital this quarter. 

Business Highlights - for Q2 and H1 ended 30^th Sept 2007

• Consequent to initiation and expansion of Oracle application practice, there was significant increase in business in the enterprise applications area in North America.
• Acquired majority interest in equity of Aspire Communications, Mysore and its US affiliate Aspire Soft Corporation. Their results have been included into consolidated results from the second quarter.
• The split up of H1 sales revenues is follows:
• Segment- wise:
• Enterprise Solutions (inclusive of commodities solutions) -72%
• Product Engineering Services (Technology solutions) - 28%
• Geography:
• N. America - 66%
• Europe -27%
• Asia-Pacific Region including India - 7%  

Commenting on the results, Mr. Robert V. Chandran, Chairman, Calsoft said, "Chemoil's additional investment into Calsoft has facilitated the company to create offerings targeted at higher value customers. The current result justifies the efforts initiated and promises a healthy trend for the future."

The company believes that the outlook for 2007-08 will be robust. The company plans to grow organically as well as through a prudent and focused acquisition strategy that brings synergies to its customer solution offerings. 

Sourced From: Adfactors Public Relations Pvt Ltd