Aztec net jumps to Rs 4.7 crore

Aztec Software and Technology Services Limited has reported a net profit of Rs 4.65 crore, for the three months to December 31, compared to a nominal Rs 10 lakh in the same period last year.

Revenues during the quarter, which saw the firm conclude the acquisition of Disha Technologies Limited, were Rs 256 crore, up 146 per cent over the same period the previous year, a company release said.

Sequentially, revenues grew 26 per cent over the second quarter of the current financial year and net income grew 21 per cent. The company added six new clients during the quarter and "engagement levels of existing clients is significantly growing", the release said.

The company ended the quarter with cash and cash equivalents of almost Rs 40 crore. It had positioned itself as a preferred offshore partner for clients and revenues from offshore work accounted for 86 per cent of total revenues, compared to 82 per cent of revenues last year.

Aztec helps other software companies, making software products, in managing the processes involved in building those products better. The acquisition of Disha also gives Aztec a chance to pitch for related software testing deals, as that company is a "full-suite testing specialist", the release said.

During the quarter the company's staff strength increased to 1,225, including 409 from Disha. Aztec's stand alone staff strength the previous quarter was 741.

With a fourth development centre becoming operational during the quarter, the company now had 2 lakh sqft of office space in Bangalore, the release said.