Cranes Software Q3 net jumps 53.6 p.c.

BANGALORE: Cranes Software International Ltd has posted a consolidated net profit of Rs 15.44 crore for the third quarter ended December 31, 2005, with a growth of 53.6 percent over the corresponding quarter last year.

The consolidated revenues for Q3 were at Rs 52.90 crore, up 45 percent from Rs 36.47 crore posted during the third quarter of the last fiscal.

The company's Board of Directors also approved the acquisitions of InventX, Inc. and Karna Softek India during the reporting quarter.

Commenting on the performance, Asif Khader, managing director, Cranes, said, "Our financial performance in the reported period is indicative of the strong leverage derived from focused strategies in the existing technical software products' space. The two acquisitions take us closer to our objective of taking our widely acclaimed suite of products to global enterprises with a domain focus of identified verticals.