The revenue of the company increased by 5 per cent to Rs 97.37 crore in the Q1 of FY08-09 when compared with the corresponding quarter in the previous fiscal. The company said the dip in the net profit and marginal growth in sales were largely due to the cut in businesses from its top two customers who account to close to 25 per cent of its topline.
Segment wise, the company saw a fall of 14 per cent in its revenue contribution from system integration and support services to Rs 11.63 crore when compared with the same a year ago. Revenues from software development and services at Rs 85 crore, saw a growth of about 8 per cent, year on year basis.
The company said that they were optimistic in their business outlook in the medium term and aggressively planning to reach the growth objectives. "We have invested a lot in boosting our overseas sales presence, the results of which should be coming in the next few quarters," Madhukar Dev, MD and CEO of the company said.