Maars Software net up at Rs 3.77 cr

BANGALORE: Maars Software International Ltd. has clocked a net profit of Rs 3.77 crore for the quarter ended September 30 1999 compared to Rs 2.37 crore for the same period last year.

Net sales totaled Rs 18.25 crore from Rs 9.75 crore last year, while other income was Rs 40.05 lakh from Rs 3.15 lakh last year. Total expenditure was recorded at Rs 14.26 crore from Rs 6.95 crore last year. Interest expenses went down to Rs 6.27 lakh against Rs 12.81 lakh last year. Depreciation expenses touched Rs 54.60 lakh from Rs 23.52 lakh last year. The company has made no provision for taxation this quarter while during the same period last year it had made a provision of Rs 10 lakh. The paid up share capital of the company has increased to Rs 7.18 crore from Rs 5.10 crore. For the year ended December 31, 1998, the company recorded net profit of Rs. 7.51 crores on a total income of Rs. 35.43 crores.