As per the unaudited financial results released here, the company has posted a net profit of Rs 11.79 crore registering a growth of 201 per cent over Rs 3.91 crore for the same period previous year.

The total income from software exports was Rs 27.82 crore for the first half in the first half as compared with Rs Rs 11.13 crore in the same period last year. During the second quarter, VIL has recorded a sale income of Rs 15.05 crore which include the sale proceeds of different products amounting to Rs 7.04 crore. For this quarter, the profit increased to Rs 6.36 crore after providing Rs 15.40 lakh towards tax.

During the period under review, the paid up capital of the company was increased by Rs 30 lakh due to the preferential allotment of three lakh shares to the financial institutions at a premium of Rs 1,415 per share. Accordingly, the reserves have increased to Rs 66.45 crore from Rs 7.16 crore for the same period last year.

The company has continued the accelerated depreciation policy adopted last year. As a result, the provision for the depreciation for the current quarter is higher. In the current quarter, the company has entered into an agreement for purchase of a new building, for which the company has raised funds through preferential issue. The company shares have also been listed in National Stock Exchange and trading was commenced in the second week of October, 1999.