Cranes Q4 net profit up 182%

BANGALORE: Cranes Software International Ltd. (CSIL) has announced that its net profit after tax for the quarter ended March 31, 2004 increased by 182 percent to Rs 15.21 crore from Rs 5.4 crore in the corresponding period last year. The company reported a 100 percent increase in consolidated operating revenues to Rs 51.7 crore for Q4, 2004 as compared to Rs 25.79 crore in the corresponding quarter last year.

On an annual basis, CSIL's operating revenues increased to Rs 113.69 crore from Rs 61.01 crore in the corresponding period last year, growing by 86 percent. Operating profit and Net profit expanded by 74 percent and 132 percent respectively to Rs 51.66 crore and Rs 32.56 crore.

The Board has recommended a regular dividend of Rs 1.5 per share (15 percent) and an additional one time special dividend of Rs 1.5 per share (15 percent) for the year.

On a stand-alone basis, CSIL's operating revenues for the quarter grew by 91 percent to Rs 436.1 million compared to Rs 228.6 million in the corresponding quarter previous year, while net profit after tax was higher by 130 percent to Rs 159.7 million from Rs 69.3 million.

On an annual basis, CSIL's operating revenues increased by 105 percent to Rs. 988.3 million compared to Rs. 481.4 million in the corresponding period last year. Net profit after tax stood at Rs. 324.9 million from Rs. 140.5 million, an increase of 131 percent.

Commenting on the performance for Q4 FY 2004, Cranes Software MD, Asif Khader said, "We are greatly encouraged by our financial performance in the fourth quarter that has provided positive momentum for the next fiscal year. We are confident that our operating initiatives during the year will allow the continuation of the significant out performance achieved over the last several years.

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