Sonata Soft, Tata Metaliks, Titan results

CORPORATE SCORECARD

Sonata Software has reported a 45 per cent growth in net profit at Rs 3.6 crore for the first quarter ended June 30, 2004 as against Rs 2.5 crore for the first quarter ended June 30, 2003. The company has posted a 27 per cent growth in revenues at Rs 23.8 crore (Rs 18.7 crore).

B Ramaswamy, president & MD, Sonata, said: "The growth in this quarter has been the result of a conscious strategy to build scalable relationship with customers. Spurred by the success of this strategy, we are expanding operations with a third development centre in Bangalore and increasing the headcount."

Tata Metaliks net rockets 252% to Rs 18.39 cr

Tata Metaliks posted a profit of Rs 18.39 crore in the first quarter of fiscal year 2004-05, an increase of 252 per cent compared with Rs 5.22 crore last year. The net realisation from prime pig iron per tonne increased 33 per cent over the last quarter of the previous year.

The profit before tax to income ratio improved to 49 per cent from 25 per cent achieved last year. The production of prime pig iron rose 20 per cent to 39,073 tonne (32,543 tonne).

Titan Q1 loss down 23% to Rs 5.78 cr

Titan Industries cut its net loss by 23 per cent to Rs 5.78 crore for the quarter ended June 2004, as compared with Rs 7.52 crore in the same period last year. Sales grew 42 per cent to Rs 209.16 crore.

A statement from the company said: "Historically first quarter results are not an indication of the full years performance. Sales and profit are skewed to the subsequent quarters when trade purchases peak in the festival and marriage season."

The time products division grew 5 per cent over the June quarter 2003 to Rs 95.54 crore, while the jewellery division stood at Rs 114.12 crore. However, the jewellery division sales could not be compared, as it was impacted by restructuring and stock correction last year.