Geometric Q2 net profit up 17%

MUMBAI: Geometric Software Solutions Co. Ltd has reported an increase of 17 percent in consolidated net profit for the quarter ended September 30, 2003 to Rs 5.3 crore as compared to Rs 4.5 crore for the corresponding quarter last year. The net profit for the current quarter represents a rise of 29 percent sequentially viz., Rs 5.3 crore as compared to Rs 4.1 crore over the immediate preceding quarter ended June 30, 2003.

It also reported an increase in consolidated revenue for the quarter ended September 30, 2003 to Rs 26.7 crore, as compared to Rs 21.4 crore for the corresponding quarter last year, representing an increase of 25 percent.

On a sequential quarter on quarter basis, consolidated revenues grew by 11 percent, Rs 26.7 crore for the quarter ended September 30, 2003 as compared to Rs 24.03 crore for the preceding quarter.

Commenting on the results, Geometric MD Manu Parpia said, "the results reflect the coming together of key elements of our strategy. We have continued to add to our relationships and build on existing ones. We are also now beginning to see opportunities for a wider range of areas in the PLM field including Engineering Services."

(CNS)