Geometric net profit up 15%

MUMBAI: Geometric Software Solutions Co. Ltd's consolidated revenue for the quarter ended 31st December 2003 increased to Rs. 295.83 million, as compared to Rs. 228.65 million for the corresponding quarter last year, representing an increase of 29% YOY. On a sequential, consolidated revenues grew by 11%, Rs. 295.83 million for the quarter ended 31st December 2003 as compared to Rs. 267.24 million for the preceding quarter.

Consolidated net profit for the quarter ended 31st December 2003 increased to Rs 60.91 million, as compared to Rs. 46.61 million for the corresponding quarter last year, representing an increase of 31%. The net profit for the current quarter represents a rise of 15% sequentially viz., Rs. 60.91 million as compared to Rs.53.07 million over the immediate preceding quarter ended 30th September 2003.

Commenting on the results, Mr. Manu Parpia, Managing Director, Geometric said, "the business environment is showing signs of sustaining the improvement seen in the previous quarter. The steady progress in our go-to-market approach reflects our commitment to offer end-to-end PLM solutions coupled with the approach of not competing with our partners.

While we will continue to add new customers, our emphasis will be on gaining additional business from existing relationships and software OEMs."

The company has announced it will meet and exceed its guidance for FY 2003-04 for both top and bottom line.