Net profit has gone up by 72 per cent to total at Rs 6.75 crore (Rs 3.92 crore). Total expenditure has shot up to Rs 2.26 crore (Rs 1.06 crore). This is mainly due to the expenses incurred in the process of setting up of the new consulting division, SSI Technologies, said a company statement.

Higher depreciation charges have been incurred to the tune of Rs 3.56 crore (Rs 99 lakh) on account of infrastructure of the recently-built 25,000-sq ft offshore development centre here and the rapid expansion of the education services. ``The ODC focussing on development and consulting services in banking, insurance, telecom, securities and healthcare areas will bring in more revenue during the second half of this year,'' said SSI chairman and CEO Kalpathi S Suresh.

In view of the growth in revenues, the company has provided for higher taxation of Rs 1.75 crore (Rs 1 crore) for the quarter. Interest charges, however, was down at Rs 34.63 lakh (Rs 93 lakh).