VisualSoft Q2 net profit jumps by 147%

CIOL Bureau
New Update

BANGALORE: Visualsoft (India) Ltd. net profit has risen to Rs 6.36 crore from

Rs 2.63 crore during the same period last year, recording a 147 per cent rise.

The unaudited financial results for the quarter were taken on record by the

board of directors.

The company has posted a Rs 15.54-crore turnover for the second quarter ended

September 30, 1999, recording a 113 per cent rise over the Rs 7.29 crore

recorded during the corresponding period last year. The company's annualized

earnings per share (EPS) has gone up from Rs 16.84 during the second quarter

last year to Rs 39.82 in the corresponding period this year.

The paid up equity capital has gone up to Rs 6.55 crore during the second

quarter in 1999 against Rs 6.25 crore during the corresponding period last year.

"The increase in paid-up capital of Rs 30 lakh during the current quarter

was due to a preferential allotment of three lakh equity shares to FIIs (foreign

institutional investors) and Mutual Funds at a premium of Rs 1,415 per share

during August 1999," said company chairman and managing director D.V.S.

Raju. The equity shares of the company have been listed on the National Stock

Exchange of India and have been scheduled for trading with effect from October

13, 1999.