Press ReleasesCranes Software’s 3Q consolidated revenues increase 126%
Net Profit grows by 190% to Rs. 84.3 million Quarterly EPS at Rs. 10.01
Bangalore, January 30, 2004: Cranes Software International Ltd. (CSIL), a global scientific and engineering software solutions provider, today announced its unaudited results for the quarter ended December 31, 2003.
Group performance review - quarter ended December 31, 2003:
CSIL’s consolidated operating revenues for the quarter ended December 31, 2003 was higher by 126% to Rs. 289.9 million compared to Rs. 128.1 million in the corresponding quarter last year. Operating profit increased by 210% at Rs. 155.2 million in the third quarter of the fiscal year 2004 from Rs. 50.1 million as margins increased to 53.5%. Net profit after tax increased by 190% to Rs. 84.3 million from Rs. 29.1 million.
On a nine monthly basis, CSIL’s operating revenues increased to Rs. 619.8 million from Rs. 352.9 million in the corresponding period last year, growing by 76%. Operating profit and Net profit expanded by 114% and 100% respectively to Rs. 331.0 million and Rs. 173.5 million. Earnings per share during the period was Rs. 20.6.
CSIL stand-alone performance review:
CSIL’s operating revenues for the quarter increased by 140% to Rs. 265.0 million compared to Rs. 110.3 million in the corresponding quarter previous year, while net profit after tax increased by 119% to Rs. 71.4 million from Rs. 32.6 million.
On a nine monthly basis, CSIL’s operating revenues increased by 118% to Rs. 552.2 million compared to Rs. 252.9 million in the corresponding period last year. Net profit after tax stood at Rs. 165.3 million from Rs. 71.2 million, an increase of 132%.
Commenting on the performance for Q3 FY2004, Mr. Asif Khader, Managing Director, Cranes Software International Limited, said:
"In the third quarter, we have maintained our strong growth trajectory and the results are in line with our internal objectives. And importantly, much has been achieved over the last few months - milestones that further deepen our relationships with the community of global scientists. We have initiated the acquisition process for the Sigma product line, significantly enhancing our focused portfolio of global products. We have also invested in ESQUBE, a communication technology innovator, extended our relationship with Texas Instruments to the ASEAN region and expanded our international network with new subsidiaries in Singapore and Germany.
We are delighted that our initiatives have led to recognition as the fastest growing technology company in India by Deloitte Touche Tohmatsu, based on our achievements over the last two years. We are confident that given the progress achieved in the current year, we will continue to show ongoing outperformance 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 80 520 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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