Soffia Software turnover jumps

Soffia Software has reported higher turnover and profit in the year ended June 30, 2000. The turnover has jumped to Rs. 14.12 crores from Rs. 2.42 crores and the net profit, before depreciation and taxation, to 5.46 crores from Rs. 88.02 lakhs. The profit, after tax, is higher at Rs. 4.12 crores against Rs. 61.61 lakhs. The interim dividend of 21 per cent paid already was treated as final dividend.

The equity capital has increased to Rs. 4 crores consequent to the allotment of 10 lakh shares on a preferential basis to various institutional investors at a premium of Rs. 140 per share.

The board of directors has decided to spin off its training division, Soffia Infology as a separate company from the financial year 2001-2 onwards. The company has opened two more training centres during the financial year and is in the process of opening three more centres and 50 franchisees during the current financial year.The company is entering into high technology areas such as telecom, networking, software applications and the like. It is setting up telecom products for this purpose. The company is in the process of acquiring two U. S based companies.

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