Mascot Systems Q3 net dips 31%

Bangalore, January 25: | Updated: Jan 26 2002, 05:30am hrs
Mascot Systems has reported total revenues of Rs 97.46 crore for the third quarter ended December 31, 2001, a one per cent decrease over Rs 98.46 crore in the corresponding period last year. The net profis for the quarter stood at Rs 10.51 crore, a 31.2 per cent decline as compared to Rs 15.28 crore in Q3 last fiscal.

For the nine-month period ended December 31, 2001 the total revenues stood at Rs 319.41 crore, a 33.7 per cent increase over Rs 238.83 crore in the same period last year. The profit after tax for the nine-month period was pegged at Rs 37.55 crore, a 20.7 per cent increase over Rs 31.1 crore in the same period last fiscal.

On a sequential basis, the revenues from operations declined by 12.5 per cent to Rs 97.46 crore as compared to Rs 111 crore. Net profit after tax declined by 24 per cent to Rs 10.51 crore compared to Rs 13.88 crore in Q2 this fiscal.

During Q3, 2001-02, the revenues from the US were at Rs 65.98 crore, while Europe contributed Rs 13.24 crore and APAC accounted for Rs 18.24 crore - contributing to 68 per cent, 14 per cent and 19 per cent of the total Q3 revenues respectively.

For Q3, offshore revenues contributed to 24 per cent of total revenues while onsite accounted for the remaining 77 per cent. Contribution from GE, Mascot’s largest customer saw a 70 per cent jump to stand at Rs 57 crore.