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DSQ Software net at Rs 28 cr in Q1

CHENNAI: DSQ Software Ltd has recorded a net profit of Rs 28.61 crore for the first quarter ended March 31, 2001 as compared to Rs 22.40 crore for the corresponding quarter in the previous year.

Income from software services totalled Rs 117.25 crore (Rs 90.22 crore). Other income came to Rs 1.80 crore (Rs 0.35 crore). Staff cost came to Rs 47.19 crore (Rs 36.99 crore) while other expenditure stood at Rs 26.75 crore (Rs 18.75 crore). The company incurred no interest costs (Rs 1.52 crore) while depreciation expenses came to Rs 16.50 crore (Rs 10.91 crore).

The company has made no provision for taxation in this quarter.

DSQ Software recorded a net profit of Rs 126.87 crore on net sales of Rs 521.56 crore for the 18-month period ended December 31, 2000.

A statement released by the company, says that quarter-on-quarter, it has maintained flat growth. DSQ has added 10 large, new accounts and has added 173 professionals during the just-concluded quarter, the release said.

The statement added that the company has undertaken product initiative in development of work-flow components in the e-business Business Unit. Further, a customer relationship management (CRM) template for the banking industry using Siebel e-Business sui te has been developed.

DSQ has tied up with a large French IT company which is an independent system integrating company catering to the French and Luxembourg markets. It employs around 180 software professionals and caters to around 200 clients in vertical markets. The statem ent said that this company would use DSQ's expertise and manpower to propel its growth in the marketplace.

DSQ has opened two offshore development centres for a client each in the US and the UK.

Finally, the company has been assessed at Level 5 of the capability maturity model of the Software Engineering Institute for all its centres - Chennai, Bangalore and New Delhi. The assessment was done by Global Systems Technology Inc, a CMM assessment au diting firm.