QII-07 revenues grow sequentially by 14.2%: Aztecsoft

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QII-07 revenues grow sequentially by 14.2%: Aztecsoft

QII-07 revenues grow sequentially by 14.2% and net Profits by 23.6%.

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Aztecsoft Limited (Aztecsoft) announced its financial results for the second quarter and half year ended September 30, 2006. The financial results were taken on record by the Board of Directors of the Aztecsoft at its meeting held on October 11, 2006. For the quarter ended September 30, 2006, Aztecsoft has posted its highest ever quarter revenues of Rs. 67.92 crores and net profit of Rs. 11.46 crores on consolidated basis.

Key Highlights:

• Q-o-Q growth (sequential growth) of 14.2% in revenues and 23.6% in profits.
• Continued strong customer acquisition with 13 new clients added in this quarter.
• Aggressive ramp up in resource count with the addition of more than 525 resources in this quarter, including 325 campus hires and trainees for future business.
• Substantial expansion in its infrastructure to meet future growth needs - 280 seats in Bangalore and 250 in Pune.
• Continued tradition of being a "Great Place to Work" by being named the 7th Best Employer in the DQ "Best Employer Survey."
• Dendrite International, Inc., one of Aztecsoft's customers, to transfer its ODC to itself.

 Riding on the robust growth of the Outsourced Product Development (OPD) outsourcing, Aztecsoft added 13 clients in this quarter with a balanced composition of mature and emerging customers. Aztecsoft's strong pipeline of prospects expected to help it sustain the business growth.

Financial Performance of Aztecsoft and its Subsidiaries 

Corresponding quarter review (QII-07 Vs QII-06)

• Consolidated revenues for QII-07 of Rs. 67.92 crores grew by 41.5% over the corresponding quarter of the previous year QII-06 at Rs. 48.01 crores.
• The net profits (PAT) of Rs. 11.46 crores grew by 27.3% over the corresponding quarter of the previous year - QII-06 of Rs. 9.00 crores.

 Sequential quarter review (QII-07 v/s. QI-07)

• The consolidated revenues of Rs. 67.92 crores have grown sequentially by 14.2% in comparison to Rs 59.48 crores.
• The net profits (PAT) of Rs. 11.46 crores have grown sequentially by 23.6% in comparison to Rs 9.27 crores.

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