Date:16/07/2004 URL: http://www.thehindubusinessline.com/2004/07/16/stories/2004071601260700.htm

Back Aztec Q1 net surges to Rs 2.8 cr

Our Bureau

Bangalore , July 15

AZTEC Software and Technology Services has reported a jump in net profit to Rs 2.81 crore for the quarter ended June 2004, compared to Rs 27 lakh in the corresponding previous period.

During the quarter, profits went up by Rs 2.63 crore. Revenues for the quarter were Rs 16.13 crore, an increase of 90 per cent over the corresponding previous period. Sequentially, revenues grew 27 per cent, according to a company release.

According to Mr K.B. Chandrashekar, Chairman, the company experienced robust business growth from existing clients and was the preferred outsource partner for a number of them. Revenues from offshore projects accounted for 82 per cent of revenues.The global demand for offshoring will continue to benefit us, said Mr V. Chandrashekaran, MD and CEO.

"We will leverage our comprehensive solutions portfolio of service offerings, domain expertise and alliances and cost-effective delivery capacity.''