Cranes Software’s Q2 revenue up 38 pc

November 14th, 2007 - 2:51 am ICT by admin  
On the occasion of the second quarter results announcement, Asif Khader, Managing Director, Cranes Software International Limited, said: “Cranes Software continues to witness a demand pattern that is growing exponentially as is reflected by our increased clientele and the strong financial performance declared by the Company for the current quarter under review. This quarter can be most appropriately summed as one of consolidation from the previous quarter where the Company had announced several product launches and four independent acquisitions in the data analytics space. Accordingly, revenues expanded 38 per cent while PAT was up 30per cent Q-o-Q, with operating margins of 55 per cent.”

“Although so much is being written about the sub prime woes and speculative economic slowdown in the United States, the business of data analytics and engineering simulation is increasingly becoming the oxygen for other industries to rely on, not only to differentiate themselves but also capture maximum market share by judiciously utilizing the abundant information available to support business decisions. In this regard, Cranes is cementing its presence across the globe with high focus on the European and American markets. Going forward, we expect to continue growing at a robust pace thereby evolving into a global top tier analytics driven Products and Solutions Company,” he added.

Cranes second quarter performance review:

Corresponding quarter comparison:

Q2 FY08 (July - September 2007) v/s Q2 FY07 (July - September 2006)

– Total income increased by 38 per cent from Rs. 666.8 million to Rs. 917.3 million in the current quarter..) Overseas revenues were up 29 per cent at Rs. 746.3 million and constitute 81per cent of total revenues..) Domestic revenues rose 34 per cent from Rs. 119.3 million to Rs. 159.7 million in the current quarter.

– Operating profit improved by 37 per cent to Rs. 507.1 million compared to Rs. 368.9 million in the previous corresponding quarter. Operating margins remained stable at 55 per cent .

– Net profit after tax grew by 30 per cent to Rs. 272.7 million translating into diluted EPS of Rs. 2.14 as against Rs. 1.74 reported during the same period last year.

Sequential quarter comparison:

Q2 FY08 (July - September 2007) v/s Q1 FY08 (April - June 2007)

– Total Revenues increased 9 per cent from Rs. 840.7 million..) Overseas revenues expanded by 1 per cent q-o-q from Rs. 673.6 million to Rs. 746.3 million .) Domestic revenues remained almost flat at about Rs. 160 million.

– Operating profit increased by 14 per cent from Rs. 444.7 million. Operating margins were higher from 53 per cent in Q1 FY08 to 55 per cent in the current quarter.

* Net profit after tax (prior to adjustments) was up 11 per cent from Rs. 246 million. Accordingly, diluted EPS increased from Rs. 1.84 in Q1 FY08 to Rs. 2.14 in the quarter under review. (ANI)

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