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Aztec revenue dips 31% y-o-y

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CIOL Bureau
New Update

BANGALORE: Aztec Software and Technology Services Limited has posted a turnover of Rs 13.25 crore and a net profit of Rs.1.61 crore before extraordinary items, for the quarter ending September 30th 2002. For the corresponding quarter last year (quarter ended 30th September 2001) the company had posted a turnover of Rs 19.29 crore and a net profit of Rs 6.99 crore, on a consolidated basis, registering a dip of 31 percent in revenues year—on-year.



On a quarter-on-quarter basis, the company has displayed healthy signs of growth as the revenue grew from Rs 11.2 crore with a net loss of Rs 3.6 crore posted in the previous quarter.



On other aspects, the company has raised its head count by about 13 percent while adding four new customers in the last quarter. It has also increased its non-American revenues up to 15 percent, as against less than five percent for the last fiscal.



The company is currently having its delivery processes assessed under the Capability Maturity Model of the Software Engineering Institute, Carnegie Mellon. (SEI-CMM). Aztec, CEO, Chris Brown, said, "The diversification in our customer portfolio and our geographical expansion initiative have been rewarding for Aztec and this can be seen in our results. The last few quarters have been turbulent for Aztec, but we have stayed focused on our tasks and have managed to turn around our business. As is apparent from our results this quarter, our concerted efforts are paying off and we look forward to the future with renewed optimism"

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