Press Releases
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| Cranes Software's 4Q consolidated total revenues increase 97% to Rs. 517 million | Net Profit grows by 182% to Rs. 152.1 million FY 2004 EPS at Rs. 38.31
| Bangalore, May 4, 2004 | Cranes Software International Ltd. (CSIL), a global scientific and engineering software solutions provider, today announced its unaudited results for the quarter ended March 31, 2004.
Group performance review - Full year and quarter ended March 31, 2004:
CSIL's consolidated operating revenues for the quarter ended March 31, 2004 increased by 100% to Rs. 517 million compared to Rs. 257.9 million in the corresponding quarter last year. Operating profit was higher by 29% at Rs. 184.5 million in the fourth quarter of the fiscal year 2004 from Rs. 143.2 million. Net profit after tax increased by 182% to Rs. 152.1 million from Rs. 54 million.
On an annual basis, CSIL's operating revenues increased to Rs. 1136.9 million from Rs. 610.1 million in the corresponding period last year, growing by 86%. Operating profit and Net profit expanded by 74% and 132% respectively to Rs. 516.6 million and Rs. 325.6 million. Earnings per share during the period was Rs. 38.31. The Board has recommended a regular dividend of Rs. 1.5 per share (15%) and an additional one time special dividend of Rs. 1.5 per share (15%) for the year.
CSIL stand-alone performance review:
CSIL's operating revenues for the quarter grew by 91% to Rs. 436.1 million compared to Rs. 228.6 million in the corresponding quarter previous year, while net profit after tax was higher by 130% to Rs. 159.7 million from Rs. 69.3 million.
On an annual basis, CSIL's operating revenues increased by 105% to Rs. 988.3 million compared to Rs. 481.4 million in the corresponding period last year. Net profit after tax stood at Rs. 324.9 million from Rs. 140.5 million, an increase of 131%.
Commenting on the performance for Q4 FY 2004, Mr. Asif Khader, Managing Director, Cranes Software International Limited, said "We are greatly encouraged by our financial performance in the fourth quarter that has provided positive momentum for the next fiscal year. We are confident that our operating initiatives during the year will allow the continuation of the significant outperformance achieved over the last several years.
In FY 2004, Cranes Software has made substantial strides towards its objective of achieving its 'global vision'. We now own a substantial suite of global software products used by over 2 lakh scientists and engineers worldwide. We have a global presence that extends across 5 direct offices and 29 distributors across 33 countries worldwide. We have significant international technical, managerial and product development experience on board. Cranes has expanded its global ownership following our recent GDR offering that saw strong demand from high quality international investors. And the final global dimension comes from the recognition we have received in the international marketplace: for our products that have been rated as 'Top 5 products' by the Scientific Computing and Instrumentation journal apart from Cranes being named the #1 Indian Technology Company by Deloitte Touche Tohmatsu."
About Cranes Software International Ltd. (CSIL):
CSIL, a global scientific & engineering products and solutions provider, offers its customers products, consulting and training in the scientific and engineering field. The company is dedicated to excellence, which brings recognized leadership in technical software products and support capabilities. CSIL expertise in these fields comes with an early bird experience of over a decade.
CSIL with a definite and distinct focus on product development, consulting, distribution and training, has its network spread over nine direct offices and thirteen dealers all over India. With a mission statement to provide its customers the best in scientific technology and to enable its customers to define new limits, CSIL is setting new standards in the scientific software and engineering field.
For further information, please contact :
Contact : Akila Lean (Cranes Software International Limited)
Phone : +91 80 2520 1604 / 5 / 6
Fax : +91 80 2520 1626
E-mail :
akila@cranessoftware.com
Contact : Shiv Muttoo (Citigate Dewe Rogerson)
Phone : +91 22 2284 2728
Fax : +91 22 2284 4561
E-mail :
shiv@cdr-india.com
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