Product-based technology company Megasoft Limited registered a net profit of Rs 4.17 crore the first quarter of 2010, as against Rs 12 lakh in the corresponding quarter last year on the back of good performance by its telecom division. The company, which follows a January-to-December financial year, reported revenues of Rs 39.26 crore, as against Rs 75.22 crore, a decline of 48 per cent. “Revenues declined after the divestment of our IT services division (BlueAlly) in 2009,” said Megasoft managing director GV Kumar.
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