Aztec reports Rs 66 crore PAT

BANGALORE: Aztec Software & Technology Services has announced a 3,567 percent increase in net income (PAT) to Rs 66 crore for the quarter ended March 31, 2005 as compared to Rs 18 lakh last year. The company recorded consolidated revenues of Rs 36.12 crore for the fourth quarter ended March 31, 2005, an increase of 185 percent over Rs 12.69 crore in the corresponding quarter of the previous year.






The consolidated results include Disha Technologies (India) Ltd, a 100 percent subsidiary of Aztec for the period December 1, 2004 to March 31, 2005. On a stand-alone basis, the company's revenues were Rs 24.01 crore and net profit was Rs 4.46 crore for Q4-05. The board also recommended a dividend of 10 percent subject to shareholders approval. Consolidated revenues for financial year ended March 31, 2005 was at Rs 98.15 crore, registering an increase of 137 percent over Rs 41.40 crore in the last financial year. This includes Rs 15.81 crore of Disha. Profit after tax grew by 1,266 percent to Rs 17.89 crore in the financial year ended March 31, 2005 from Rs 13.1 lakh in the last financial year. On a stand-alone basis, the company's revenues were Rs 82.34 crore and net profit was Rs 14.70 crore.





Human capital has increased to 1,405 in the fourth quarter ended March 31, 2005 from 467 in the fourth quarter last year. The total client count increased to 52 in Q4-05 from 45 in Q3-04.





Commenting on the results, MD and CEO of Aztec V Chandrasekaran said, "The deep technology capabilities and the excellence of our team has led the company back into a phase of growth, profitability and excitement. Focused efforts during the fiscal have enabled us to acquire large clients that have scaled up and grown into high value relationships while laying a strong foundation for future growth. We are well-positioned to scale greater heights in this large growing market."