Press ReleasesCranes Software’s consolidated Q1 FY 2004 revenues up 62% at Rs. 135.65 million
PAT increases 74% to Rs.36.25 million - Q1 FY 2004 EPS at Rs. 4.29
Hyderabad, July 31, 2003:Cranes Software International Ltd. (CSIL), a global scientific and engineering software solutions provider, today announced its unaudited results for the quarter ended 30th June 2003.
Group performance review - quarter ended June 30, 2003:
CSIL’s consolidated net sales for the quarter ended June 30, 2003 increased by 62% to Rs. 135.54 million as compared to Rs. 83.66 million in the corresponding quarter last year. EBITDA was higher by 97% at Rs. 67.95 million in the first quarter of the fiscal year 2004 from Rs. 34.50 million as margins increased to 12%. Net profit after tax increased 74% to Rs. 36.25 million from Rs. 20.84 million.
CSIL stand-alone performance review:
CSIL’s net sales grew by 65% to Rs. 113.18 million compared to Rs. 68.39 million in the corresponding quarter previous year, while net profit after tax increased by 91% to Rs. 36.70 million from Rs. 19.25 million.
Commenting on the performance for the quarter, Mr. Asif Khader, Managing Director, Cranes Software International Limited, said:
"We are singularly focused on our core competence of assessing and aligning with the requirements of scientists and engineers worldwide. The performance reported in the first quarter and the ongoing financial improvements we continue to deliver clearly signifies the success of this strategy. We have made encouraging progress across our business segments, extending our software products with several new introductions developed by leveraging our R&D competencies effectively. At the same time, we have invested in developing IP in technologies of the future that we are confident will enhance our visible business horizon thereby creating long-term benefits for all our stakeholders."
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 80 520 1604 / 5 / 6
Fax : +91 80 520 1626
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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