Visualsoft Technologies Q3 Net Up 51 Per Cent

Hyderabad, January 24: | Updated: Jan 25 2003, 05:30am hrs
Visualsoft Technologies Ltd has reported 51.09 per cent growth in its net profit for the third quarter ended December 31, 2002 as compared to the corresponding period last year. The total income for the quarter also recorded a growth of 24.29 per cent. The companys board met here on Friday to consider the unaudited financial results for the third quarter ending December 31, 2002.

The net profit for the third quarter raised to Rs 8.36 crore (Rs 5.53 crore), while income from software sales rose to Rs 31.57 crore (Rs 24.44 crore). During the period under review, the paid-up share capital of the company increased from Rs 19.65 crore to approximately Rs 19.80 crore consequent to the allotment of 1,46,520 equity shares by the board on October last pursuant to the exercise options by the employees under ESOP. The company has called for an EGM on February 14 to ratify ESOP.

The EPS (on the basis of weighted average) has improved to Rs 4.23 as against Rs 2.82 during the same period last year and for the nine months ended December, the EPS stood higher at Rs 12.09 as against Rs 9.65.

On a sequential basis, the net profit witnessed a growth of 3.57 per cent, while the total income saw 4.66 per cent growth.

More than 95 per cent of the companys revenue comes from solutions Of the total income of Rs 32.36 crore, the solutions itself garnered Rs 30.40 crore (Rs 23.77 crore), registering a growth of 27.90 per cent.