Geometric Q1 net up 24%

BANGALORE: Geometric Software Solutions' consolidated revenue for the quarter ended 30th June 2004 increased by 54 percent to Rs 369.87 million as compared to Rs 240.39 million for the corresponding quarter last year. On a sequential quarter on quarter basis, consolidated revenues grew by 15 percent to Rs 369.87 million for the current quarter compared to Rs 320.38 million for the preceding quarter.

Consolidated net profit for the quarter ended 30th June 2004 increased by 24 percent to Rs 51.03 million as compared to Rs 41.11 million for the corresponding quarter last year. The net profit for the current quarter declined by 4 percent to Rs 51.03 as compared to Rs 53.40 for the preceding quarter.

Commenting on the results, Manu Parpia, Managing Director, Geometric said, "I am pleased to report the increasing acceptance of our partner approach. We are now routinely making joint bids with our partners on projects for industrial customers. We have also undertaken a series of new product initiatives which we believe will add strength to our portfolio."