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Sasken Q3 revenues at Rs 75.94 cr

Sasken a telecom and R and D outsourcing co, has registered a net profit of Rs 16.63 cr for 9 months ended December 2005.
By Press Trust of India | None, Bangalore
PUBLISHED ON JAN 20, 2006 03:37 PM IST

Sasken Communication Technologies Limited, a telecom and R and D outsourcing company, has registered a net profit of Rs 16.63 crore for nine months ended December 2005, as against Rs 11.83 crore last year, registering a growth of 40.5 per cent.

The consolidated revenues for the nine months ended December 2005 stood at Rs 230.08 crore as compared to 167.22 crore for last year, registering a growth of 37.6 per cent, a company statement said.

Consolidated revenues for the quarter ended December 2005, stood at Rs 75.94 crore and profit after tax stood at Rs 0.18 crore, after providing for an "exceptional item."

The profit after tax exclusive of the "exceptional item" was Rs 6.94 crore. This was in comparison to revenues of Rs 86.39 crore and profit after tax of Rs 11.67 crore in Q2 FY06.

The highlight for Q3 FY06 included improvement on cash and cash equivalents to Rs 17.79 crore as on December 2005, from Rs 10.87 crore as on March 31,2005.

Selling, general and administrative expenses were Rs 15.22 crore, which was 20 per cent of business revenues in comparison to Rs 17.9 per cent during the previous quarter. Average collection period stands at 71 days in Q3 FY06 in comparison to 88 days during the previous quarter.

The revenue contribution from top five customers stood at 75.7 per cent and the consolidated forex hedged position as on December 31, 2005 was $44.1 million.

A net total of 38 people were added this quarter taking the total employee strength to 2504 as on December 31, 2005.

Commenting on the performance, Rajiv Mody, Chairman and CEO, Sasken said "Our service business solutions continues to show momentum with a healthy increase in offshore revenues."

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