SAS posts 61% rise in revenue

BANGALORE: Silicon Automation Systems Limited (SAS) has posted a total revenue of Rs 75.9 crore for the year 1999-2000, marking a 61 per cent increase over last year's revenue of Rs 47 crore. According to a release, operating profits rose by 59 per cent to Rs 21.6 crore over previous year's Rs 13.62 crore. On-site revenues constituted 6 per cent of total revenue.

The company's net profit rose by 22 per cent to Rs 14.9 crore over last year’s Rs 12.2 crore. The increase in net profit was not commensurate with the increase in revenues on account of the increase in withholding taxes from Rs 2 crore to Rs 9.5 crore, the release said.

"The last year saw a distinct trend of consolidation as well as achieving clarity in the business vision of SAS. We have consolidated our position in the chosen markets areas, as a result of which our revenues have grown by 61 per cent. SAS is also realigning itself to meet the challenges of the Telecom Access market and has recently restructured its organization significantly to this end," said SAS CEO Rajiv C Mody.

During the year, SAS spent almost 4 per cent of its revenues on research and development in areas including 3G wireless, MPEG codecs and convergence technologies. SAS announced the launch of the WAP Gateway towards the end of 1999.