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Vakrangee Softwares net profit jumps 96% to Rs 10.94cr

This article was posted on Aug 2, 2008 and is filed under Press Releases

Vakrangee Softwares Ltd. (VSL), a leading integrated document management and printing management solutions provider that is spearheading the Government’s e-Governance drive, registered a jump of 96.41 percent in its net profit to Rs 10.94 crore for the first quarter ended June 30, 2008 as compared to Rs 5.57 crore in the same fiscal quarter last year. The Gross turnover during the quarter rose by 86.76 percent to Rs. 61.24 crore as compared to Rs. 32.79 crore in the corresponding period for the Q1FY2008. During the quarter, operating profit (EBIDTA) grew by 100.43 percent to Rs. 28.18 crore as compared to Rs. 14.06 crore in the corresponding period last year. The Earnings per Share (Basic) for the quarter ending June 30, 2008 stood at Rs. 5.11 from Rs. 2.91 during the last fiscal quarter indicating better efficiency and productivity.

The Board of Directors of the company has also approved the audited financials of the company at the board meeting. The Board of Directors has recommended a dividend of 20 percent, subject to final declaration of the members at the annual general meeting. The company has maintained an equitable growth ratio in line with the previous financial year. The company has achieved a Turnover of Rs. 225.95 crore during the current fiscal and its Net profit figures had gone up by 104.96 % over the previous year figures.

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