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Business News/ Companies / Company-results/  Geometric’s Q1 net profit rises 24.6%
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Geometric’s Q1 net profit rises 24.6%

Net profit rises to Rs19.2 crore from Rs15.4 crore a year earlier

Consolidated revenue stood at Rs268.85 crore, up 3.29% from Rs260.27 crore in the year-ago period. Photo: Pradeep Gaur/MintPremium
Consolidated revenue stood at Rs268.85 crore, up 3.29% from Rs260.27 crore in the year-ago period. Photo: Pradeep Gaur/Mint

Mumbai: Software services provider Geometric Ltd posted a consolidated net profit of Rs19.2 crore in the quarter ended 30 June, up 24.6% from Rs15.4 crore in the year-ago period. On a sequential basis, net profit rose 185.7% from Rs6.72 crore in the quarter ended 31 March.

Consolidated revenue stood at Rs268.85 crore, up 3.29% from Rs260.27 crore in the year-ago period. On a sequential basis, Geometric’s revenue fell 1.6% from Rs273.36 crore in the March quarter.

Geometric posted dollar revenue of $44.96 million in the June quarter, down 3.2%, compared with $46.45 million in the same period last year. Sequentially, however, dollar revenues rose 1.5% in the June quarter, compared to revenues of $44.29 million in the March quarter.

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 13.9% to Rs46.3 crore in the three months ended 30 June, as compared to Rs40.7 crore in the year ago period.

During the quarter, the company signed new deals worth $8.08 million.

Manu Parpia, managing director and chief executive officer of Geometric, said: “Our results reflect our continuing recovery driven by growth in our automotive vertical, supported by a return to growth by the large industrial customer which had seen serious decline in revenues last year. The next quarter result will reflect the impact of salary revisions, which are in line with the industry."

The company had over 4,500 employees as of 30 June, including its subsidiaries.

On Wednesday, Geometric’s share price closed 2.13% lower at Rs156, while the benchmark BSE Sensex closed up 0.47% to 26,147.33 points. The IT index was up 2.24%. The announcement was made after market hours.

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Published: 23 Jul 2014, 07:29 PM IST
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