According to the unaudited results announced by the company after its board meeting on Thursday, the turnover has shot up by 155 per cent to Rs 22.40 crore for the quarter under review from Rs 8.78 crore in the previous corresponding quarter.

Operating profit too has shown a substantial jump of 157 per cent to Rs 8.90 crore from Rs 3.46 crore. Interest cost has increased by 100 per cent to Rs 1.45 crore from Rs 72.01 lakh. Despite this, gross profit has jumped by 157 per cent to Rs 7.45 crore from Rs 2.74 crore in the previous comparable quarter.

After providing Rs 1.54 crore (Rs 88.51 lakh) towards depreciation and Rs 1.70 crore (Rs 40 lakh) towards taxation, net profit has zoomed by 154 per cent to Rs 4.20 crore from Rs 1.65 crore.

The paid-up equity capital has risen to Rs 5.94 crore from Rs 4.74 crore. The company reservesstood at Rs 31.30 crore as of the previous accounting year ended June 30, 1998. It has also ensured Y2K compliance of all its hardware and software and micro-processor-based systems, it is claimed.