SSI Q1 net tumbles 90%

By : |October 28, 2001 0



CHENNAI: Computer education and software services company SSI Ltd. on Monday
announced net profit in the July-September quarter fell 90 per cent from a year
ago, but reversed a loss seen in April-June.

SSI’s shares fell as much as 8.35 per cent to Rs 136 when the market opened,
while the benchmark index was up 1.12 per cent.

                                 

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The company said just before market started net profit in the first quarter
was Rs 27.83 million compared to 275.77 million in the year-ago quarter.

Net sales slipped 18.4 per cent to Rs 828.68 million from 1.02 billion in the
year earlier period. SSI had a loss of Rs 144.58 million in the April-June
quarter on account of an extraordinary write-off of 200 million rupees in the
value of an investment in an Internet-based securities firm.

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