Blue Star Q4 net up 24%

HYDERABAD: Blue Star Infotech Ltd. has recorded 13 percent growth in consolidated net profit to Rs four crore and 51 percent growth in consolidated sales revenue to Rs 30.7 crore for the quarter ended March 31, 2004 as compared to the corresponding quarter of the previous year. Sequentially, the quarterly sales revenue is up by 19 percent.

For the year ended March 31, 2004, the company recorded 35 percent growth in sales revenue to Rs 105 crore and 24 percent growth in net profit to Rs 19.9 crore as compared to the corresponding period of the previous year. Earnings per share for the year amounted to Rs 19.90. The company has increased the dividend from 75 percent to 90 percent.

Eleven new customers added during the quarter taking total number of active customers to 45 for the quarter and 60 for the year. 25 employees added during the quarter, taking total strength to 797 people.

Commenting on the performance, Blue Star MD Parmod Bhalla said, "Reaching Rs 100 crore in revenues is a milestone for us.

Our focus on enhancing our competency and relationship management has been key in developing existing customers and acquiring new ones. Today we have the required size, expertise, compelling value proposition and ambition to embark into the journey of building the next generation software services and consulting company."

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