Aztec Software Q1 net up 26% | india | Hindustan Times
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Aztec Software Q1 net up 26%

india Updated: Jul 13, 2006 11:38 IST

Aztec Software & Technology Services Ltd reported a 26 per cent rise in net profit for the June 2006 quarter riding business from new clients.

The net profit for the quarter on a consolidated basis was Rs 92.7 million on revenue of Rs 594.8 million, up 40.68 per cent from year ago.

During the quarter to June it won 16 new clients.

Salary hikes and higher marketing costs affected operating profit margins, down to 17 per cent during the quarter from 18 per cent the year ago.

Aztec increased wages by 18 per cent from April 1, 2006, largely for its onshore employees and added 113 employees in the quarter.

"We expect an improved performance in the second quarter due to more client additions," Chairman KB Chandrasekhar said in a television interview.

Around 85 per cent of the company's revenues were from its offshore business. "We will continue to maintain this ratio as it has proved to be profitable for us," Chandrasekhar said.