| The BPO division is at present focusing on transactions processing, email support, technology support, help desk, inbound market research etc. It achieved a turnover of Rs 51.35 lakh for the quarter. The company is confident of ramping up the business volumes in the ensuing quarters. |
| V Krishnan, vice-president (finance), said that the BPO segment incurred losses of Rs 2.39 crore inclusive of Rs 1.29 crore operational losses which caused fall in the first quarter net profit. |
| The company's net profit for the first quarter ended June 30 fell 12.37 per cent to Rs 7.9 crore from Rs 9.02 crore in the corresponding quarter of the last financial year. However, the total income for the quarter grew 30.26 per cent to Rs 46.21 crore from Rs 35.47 crore. |
| The board of directors of the company has recommended a dividend of 25 per cent for 2003-04. The annual general meeting of the company will take place on September 16 to give its approval for the dividend proposal. |
| With a continued focus on key strategic accounts and enhancing the technology offerings, the company said it was confident of growing at a steady pace for 2004-05. The solutions business was growing at a steady pace, it said. |
| For the first quarter, the solutions revenue recorded a sequential growth of 4.43 per cent. Of the total revenue of Rs 46.21 crore, the revenue from software sales and services amounted to Rs 43.45 crore. |
| This includes Rs 55.25 lakh on account of product sales. |
| The rupee depreciation had a positive impact on the profitability, the company said, adding that it had put a proper mechanism in place to manage the foreign exchange fluctuations. The company added four new clients including a Fortune 500 company during the quarter. |
| The BPO division commenced its operations during the current financial year on April 12. Hence there is no comparable data for the first quarter of last financial year. |
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