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Aftek Ltd Q4 results net profit up by 48.21%

This article was posted on Apr 29, 2008 and is filed under Press Releases

Aftek Limited today declared its results for the fourth quarter ended 31st March 20008, posting steady growth in net sales as well as profits. The 48.21% increase in profit after tax from Rs.19.45 crore in the last year’s quarter (Mar’07) to Rs. 28.83 crore (Mar ’08) is after adjusting foreign exchange differences for both quarters. The total income for the quarter was Rs. 120.21 crore as compared to Rs. 82.23 crore in the corresponding quarter last year, indicating an increase of 46.19%.

Staff cost for the quarter was Rs.5.34 crore, Software Development expenses Rs. 64.86 crore and other expenditure Rs. 7.31 crore, totaling to Rs. 77.52 crore, increase of 34.9% against Rs. 57.45 crore in the previous Q4.

Aftek Ltd. has posted a 5.68% growth in the fourth quarter as compared to the third quarter of the current financial year showing sustained growth and profitability.

Aftek has posted net sales of Rs. 379.23 crores for the financial year ending March 2008 (12 months) vis-à-vis Rs. 331.31 crore for the period April 2006 – March 2007 (12 months), a rise of 14.46%. A decline in profits from Rs. 90.18 crores for the year ended March 2007 vis-à-vis Rs. 85.90 crores for the financial year ending March 2008, a decline of 4.75%, due to foreign exchange differences.

The EPS is Rs. 3.08 EPS calculation includes 9,34,85,512 numbers of Equity shares of (FV) Rs.2/- each.

Business highlights:

– Export Sales turnover for the fourth quarter on year-to-year basis has increased by 14.95%

– Digihome has been doing steady progress and expanded presence across various cities in India.

– Software services exports contributed Rs. 93.83 crores, software products exports contributed Rs. 4.30 crores and software driven products sales contributed Rs. 13.71 lakhs.

– Company plans to re-structure the business, discarding lesser profit segments and adding on high profit segments based on IP (Intellectual Property) products in the coming year.

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