• PAGE ONE
• INDEX
• HOME

Soffia Software Q3 net triples

Our Bureau

CHENNAI, April 30

THE Chennai-based Soffia Software Ltd has recorded a net profit of Rs 3.78 crore for the quarter ended March 31, 2001 as compared to a net profit of Rs 1.14 crore for the same quarter the previous year. Net sales stood Rs 12.02 crore (Rs 4.02 crore).

Total expenditure stood at Rs 7.14 crore (Rs 2.47 crore). Interest costs came to Rs 7.49 lakh (nil), while depreciation expenses came to Rs 1.06 crore (Rs 39.91 lakh). The company has made nil (Rs 7.50 lakh) provision for taxation.

For the nine months ended March 31, 2001, the company made a net profit of Rs 10.45 crore compared to a net profit of Rs 2.48 crore in the same period of last year. Net sales stood at Rs 32.91 crore (Rs 8.43 crore), while total expenditure stood at Rs 19 .64 crore (Rs 5.33 crore). Interest expenses came to Rs 21.76 lakh (Rs 1.16 lakh), while depreciation expenses came to Rs 2.70 crore (Rs 73.77 lakh). The company has provided Rs 15 lakh (Rs 7.50 lakh) for taxation.

The paid-up equity share capital of the company has remained at Rs 4 crore.

The company made a net profit of Rs 4.12 crore on net sales of Rs 13.84 crore for the year 1999-2000. In that period, the reserves excluding revaluation reserves stood at Rs 17.69 crore.

In a statement, the company said that exports constituted 72.46 per cent of the total sales for the third-quarter ended March 31, 2001. Further, it said, a new research and development centre of 6,000 sq ft in Chennai for the company's HRMS product -- eM Power -- has become operational at the end of March 2001.

Soffia Software has added clients such as AT&T, USA Travel Agency, Simutest and City of Tracy and works for these in technology areas such as embedded software for chip sets, operation support systems on GPRS (Global Packet Radio Services) and third gene ration (3G) technology for wireless solutions. In a statement, the company said it was exploring avenues for software maintenance projects and e-governance projects in Europe and West Asia.

Soffia recently conducted a product implementation programme, Novanim Millimages, an animation company in Europe. The company is in the process of signing a memorandum of understanding (MoU) with a Big Five consulting company to implement the former's eM Power software package for human resources management. Soffia has plans to be an applications service provider in this segment, the release said. It added that the company was looking to Europe and other emerging markets to maintain growth.