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Megasoft Records a Strong First Quarter; Revenues up by 81% Y-o-Y to Rs. 650.5 mn.
Mumbai, Apr 30, 2007 (ABN Newswire) - Megasoft Limited (BSE CODE NO: 532408), a transnational Intellectual Property-driven, product-based technology company, today announced financial results for the first quarter ending March 31, 2007, with both revenue and net profit exceeding the company's guidance. Megasoft follows the January - December calendar.
- Revenue from Operations was Rs. 650.5 ($15.09 mn) a growth of 81% over Q1' 06.
- Net Profit rose to Rs. 121.0 mn ($2.81 mn) a growth of 62% over Q1' 06.
- Operating margins improve by 700 basis points Y-o-Y and 45 basis points Q-0-Q
- Launched Brand "BlueAlly" for its IT and Technology Services Business.
- Launched MyPeers - world's first smart-tagging advertising engine for mobile communications
Other Highlights of Qtr1 Ended March 31, 2007
- 88% increase in Telecom revenues over corresponding quarter in 2006
- 78% increase in Consulting revenues over corresponding quarter in 2006
- 122% increase in Telecom segment profit over corresponding quarter in 2006
- Telecom Segment margins improved to 53% from 45% for Q1 ;06
- EPS Rs. 2.71 on diluted equity for the quarter.
- Operating Margins improved to 30.81% compared to 23.85% in Q4' 06
"The Company has shown robust performance and significant improvement in operating margins and net profit for the quarter. Post Amalgamation with Visualsoft, The Company has re-positioned its IT Services business as the number one "go-to" company in the Product Life cycle Management (PLM) and ADMS space and has launched a new brand, "BlueAlly". The Company has also reconstituted its Board of directors by inducting Mr. Anil Sood, Mr. Sadagopan and Mr. J Srihari Raju in the Board of Directors. The Company would benefit from their valuable experiences with their long association in the Industry. " said Managing Director & CEO, GV Kumar.
Awards and Recognition
Megasoft won the prestigious HP Business Partner of the Year Award for the EMEA Region.
About Megasoft Limited
Established in 1994, Megasoft (BSE CODE NO: 532408) is a transnational Intellectual Property-driven, product-based technology company that focuses on its expertise in the growing Telecom sector. The company has initiated a strategic transition – from a midsized IT services company to a leading domain-led Intellectual Property (IP)-driven technology company. Megasoft is a SEI CMM Level 4 company that operates out of USA, UK, Singapore, Malaysia and Germany, and in Hyderabad and Chennai in India. Megasoft is publicly listed in the Bombay Stock Exchange. Megasoft has a January~December Financial Year. After the amalgamation of Xius with it in 2004, Megasoft's Telecom offerings are now being offered to Telecom operators across all continents. The Current Amalgamation of Visualsoft Technologies has given strong product engineering and product development capacities with CMM level 5 certifications. Additional information about Megasoft is available at www.megasoft.com.
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