Genesys Q1 net profit up by 117%

NEW DELHI: Genesys consolidated net profit has increased to Rs 2.26 crore for the quarter ended June 30, 2002, compared to a net profit of Rs 1.04 crore in the quarter ended June 30, 2001, representing an increase of 117%. The net profit for the current quarter also represents an increase of Rs 1.85 crore over the Rs .41 crore posted in the previous sequential quarter ended 31 March 2002.

Consolidated Revenues from GIS services at Rs 7.68 crore in the current quarter have increased by 113% over the same quarter last year. The company’s IT consulting revenues declined from Rs 8.87 crore to Rs 4.91 crore. However, effective cost controls and a redefined business focus has led to improvement in margins.