Press Releases
Cranes Software's H1 consolidated revenues increase 47%
Operating margins expand by 680 basis points at 53.3%
Net Profit grow by 55% to Rs.89.5 million
H1 EPS at Rs. 10.62
Mumbai, November 17, 2003 : Cranes Software International Ltd. (CSIL), a global scientific and engineering software solutions provider, today announced its audited results for the quarter ended September 30, 2003.
Group performance review - quarter ended September 30, 2003 :
CSIL's consolidated operating revenues for the quarter ended September 30, 2003 increased by 38% to Rs. 194.4 million as compared to Rs. 141.1 million in the corresponding quarter last year. Operating profit was higher by 54% at Rs. 107.9 million in the second quarter of the fiscal year 2004 from Rs. 70.0 million as margins increased to 56%. Net profit after tax increased by 45% to Rs. 53.2 million from Rs. 36.7 million.
On a half yearly basis, CSIL's operating revenues increased to Rs. 329.9 million from Rs. 224.8 million in the corresponding period last year, growing by 47%. Operating profit and Net Profit expanded by 68% and 55% respectively to Rs. 175.8 million and Rs. 89.5 million. Earnings per share during the period was Rs. 10.62.
CSIL stand-alone performance review :
CSIL's operating revenues grew by 135% to Rs. 174.1 million compared to Rs. 74.2 million in the corresponding quarter previous year, while net profit after tax increased by 191% to Rs. 56.4 million from Rs. 19.4 million.
On a half yearly basis, CSIL's operating revenues increased by 102% to Rs. 287.3 million as compared to Rs. 142.6 million in the corresponding quarter last year. Net profit after tax stood at Rs. 93.1 million from Rs. 38.6 million, an increase of 141%.
Commenting on the performance for the quarter, Mr. Asif Khader, Managing Director, Cranes Software International Limited, said:
"Our financial performance in the second quarter this fiscal year bears further testimony to the merits of focused activity. Our relationships with the global scientist and engineer community continue to grow deeper as we facilitate improvements in their professional work environment through ongoing releases of new products, tools and processes. Launch of the Japanese version of SYSTAT 10.2, the CMTI partnership in the manufacturing vertical and the extension of the Texas Instruments relationship are the big achievements of the last three months that bring us closer to our vision of gaining significant global competitiveness in the future."
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 80 238 1740 / 1 / 2
Fax : +91 80 238 4317 or 226 8410
E-mail :
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Contact : Shiv Muttoo (Citigate Dewe Rogerson)
Phone : +91 22 2284 2728
Fax : +91 22 2284 4561
E-mail :
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