Declining demand from key BFSI and telecom clients in US and Europe and hedging losses incurred on derivative instruments to the tune of Rs 54.59 crore adversely affected net profits of IT and R&D services company MindTree in the third quarter ended December 31, 2008.
The Bangalore-based company posted 95 per cent fall in net profit after tax at Rs 94 lakh for the third quarter ending December 31, from Rs 20.81 crore posted in the corresponding quarter of the previous financial year.
Tata Tele (Mah) net loss up 64.3%
Mumbai: Tata Teleservices (Maharashtra)’s net loss has increased 64.32 per cent to Rs 45.07 crore for the quarter ended December, as compared to a net loss of Rs 27.43 crore in the corresponding quarter last year. Total income has increased 12.27 per cent to Rs 515.86 crore.
KPIT Cummins net up 19.36%
Pune: Manufacturing solutions provider KPIT Cummins Infosystems posted a net profit of Rs 16.86 crore during the October-December 2008 quarter, up 19.36 per cent over Rs 14.11 crore during the corresponding quarter of the last financial year.
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Rolta net flat at Rs 60.56 crore
Mumbai: Mid-cap IT firm Rolta India registered consolidated net profit of Rs 60.56 crore, marginally up 0.6 per cent from Rs 60.22 crore in the corresponding quarter last financial year. Revenue for this quarter touched Rs 361.94 crore, a rise of 49.7 per cent from Rs 241.70 crore in the same quarter last year. Sequentially, the company’s net profit more than doubled from Rs 23.9 core — and, revenues were up 4.6 per cent from Rs 361.9 crore.
Geometric net dips 74% to Rs 1.7crore
Mumbai: Geometric’s net profit for the third quarter ended December 31, 2008, dropped by 74 per cent to Rs 1.7 crore from Rs 6.7 crore in the corresponding quarter last financial year. The number were impacted on account of foreign exchange losses of Rs 18.93 crore, including a provision on Rs 2.19 core towards possible future currency losses.
eClerx net up 30%
Mumbai: Knowledge process outsourcing (KPO) firm eClerx Services net profit for the third quarter ended December 30, 2008 was up 30 per cent to touch Rs 16.2 crore from Rs 12.5 crore for the same quarter last financial year.