Geodesic Q1 net profit Rs 145 million,up 90% on year

ALSO READ See latest News about Geodesic See previous management interviews See what other Experts & Brokerages are saying about Geodesic Geodesic BSE | NSE 25/05/12 Are Mutual Funds betting on Geodesic?

Geodesic Information Systems Ltd, a leading provider of realtime messaging and collaboration solutions, today said that net profit for the first quarter ended 30th June 2006 was Rs 145 million, up 90% over Rs 76.5 million in the same period a year ago.

 

Result Highlights for the Group Q1 FY 06-07:

 

Consolidated Q1 revenues Rs 339 million.

 

Operating revenues increased by 99% to Rs 331 million up from Rs 167 million in the same period last year.

 

Total income increased by 101% to Rs 346 million up from Rs 172 million in the same period last year.

 

Net profit increased to Rs 145 million.

 

Five new clients added in Q1 including Daiwa, SCMB Securities, Gothenborg - Posten.

 

Sales boost on back of Mundu IM and its applications to various segments.

 

Business Highlights for Q1 FY 06-07:

 

The growth in sales and profit was driven by the value of the core Mundu  presence and communication engine being enhanced with new modules including:

 

• ADePT delivers context-based relevant advertisements on web pages and instant messaging transcripts;
• IMaround enables email and web channels to broadcast presence to open communities on the Web and intranets;
• IMReferral enables virtual word-of-mouth marketing to trusted lists of friends and buddies on your instant messenger.
• A communication stack for wireless devices including text, voice and collaboration.

 

Key appointments during the last quarter

 

• Puneet Agarwal joined as Vice President Product Management. Puneet was earlier heading the RFID initiative at BEA. Puneet is also on the Forbes list of top 25 executives to watch for.
• Atul Chitnis joined as Senior VP Product Technology and Strategy. Atul is the founder and Project Lead of FOSS.IN; is a member of Project Review and Steering Group, Department of Information Technology, Government of India. Atul Specialize in Data communication and networking, Open Source deployment and migration, wireless networking, mobile and handheld computing, virtual and online communities, technology market enablement. 
• Anand Virani has joined Geodesic as Associate VP Product Marketing. Anand has over nine years in the Telecom industry and has handled Product Management, Marketing & Engineering of cutting-edge Products, Solutions & innovative Services in the past. In the past Anand has worked with Tata Teleservices, Juniper Networks and interWAVE Communications Inc Menlo Park CA.
• Ashish Parmar has joined as Associate VP Business Development. Ashish has over 7 years of experience and has worked with leading multinationals such as Coca Cola, Ford Credit, Faith Marketing and Reuters.  Ashish is very active with sports and is a Post Graduate from IIM Lucknow.  

The senior level appointments significantly highlight Geodesic's growth plans for the future. Commenting on these appointments Kiran Kulkarni said, "We are pleased to have talented and experienced people joining Geodesic, who share our vision and we hope to significantly leapfrog on the growth path from their collective knowledge and experience".

 

 

Sourced From: Geodesic Information Systems Ltd.