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Geodesic net up 62% & total income up by 110%
Geodesic net up 62% and total income up by 110%, Total income for the quarter ended March 31, 2008 stands at Rs107.95 cr showing strong growth of 110% as compared to Rs 51.52 cr of the corresponding quarter of the previous year.
Geodesic Information Systems Ltd.(BSE: 503699, NSE: GEOINFO ), a leading provider of communication, information and entertainment products on mobile phones and internet, today announced its consolidated results according to Indian GAAP for the fourth quarter and full year ended March 31, 2008.
Financial Highlights for the quarter ended March 31, 2008
Total income for the quarter ended March 31, 2008 stands at Rs107.95 cr showing strong growth of 110% as compared to Rs 51.52 cr of the corresponding quarter of the previous year.
Net Profit of Q4-08 soared by 62% at Rs 49.50 cr as compared to Rs 30.54 cr in Q4 -07.
EPS (Earning per share) of the quarter stands at Rs 5.34 as compared to the EPS of Rs 3.37 of the corresponding quarter of the previous year.
Financial Highlights for the full year ended March 31, 2008
For the twelve months of the current financial year, Total Income stands at Rs 330.72 cr showing a robust growth of 88% as compared to Rs 175.57cr of the twelve months of the previous financial year.
Net Profit stands at Rs 154.99 cr as compared to Rs 89.82 cr showing a strong leap of 72%
EPS (Face Value of Re. 2) stands at Rs 16.85 as compared to Rs 9.97 of the twelve months of the previous year.
Operation Highlights for Q4 ended March 31, 2008:
1.Geodesic:
Geodesic and IDEA Cellular, a leading GSM Mobile Service Operator in India, jointly launched "IDEA Radio" - India's first true Mobile Internet Radio service.
Geodesic has signed a deal with a US$ 4 Billion German consumer electronics & mobile manufacturing company having its operations in Europe , the United States , and the Asia-Pacific region to integrate Mundu Messenger on their mobile phones.
The Company expanded its Mundu IM product to include Blackberry
The Company has signed a deal with a leading carrier in India and with two portals in Europe to increase its paid retail user base.
Geodesic has entered into an agreement with a leading US investment research firm focusing on equities earnings estimates and stock analysis.
"Geodesic Holdings Limited" has been incorporated as a 100% subsidiary in Mauritius to streamline the parent company's stake in company owned subsidiaries. And ensuring smooth flow of information and better integration of operations.
The Board of Directors at their meeting held on January 07, 2008 allotted 1,91,595 equity shares to employees under the Geodesic ESOP Plan.
The Company raised US$ 125 million in the form of Foreign Currency Convertible Bonds on 10th Jan 2008 at YTM of 6.6%. The Company intends to use the proceeds for overseas acquisitions and investments in joint ventures / wholly owned subsidiaries.
2.Chandamama India Limited, a subsidiary of Geodesic:
Chandamama increased its circulation by 60% during the last quarter.
3.Picopeta & Edot Solutions:
The Scheme of Amalgamation of Picopeta Simputers Private Limited, Bangalore and Edot Solutions India Private Limited, Mumbai with Geodesic Information Systems Limited have been effective from April 1, 2007 which will bring out cross selling opportunities to the existing customers
"We are very pleased with our fourth quarter and FY 2008 performance, which was driven by strong growth across our business segments, service & product offerings and geographic regions," said Mr Kiran Kulkarni, Managing Director, Geodesic Information Systems Limited. "Looking forward, we remain focused on providing value to consumers and corporations across desktops and mobile phones".
Sourced From: Text 100 Public Relations Consultancy
