Nucleus Soft, Patni & Praj Industries results

Corporate scorecard

Nucleus Soft net doubles

Nucleus Software's net profit more than doubled to Rs 20.75 crore during 2004-05. The consolidated revenue was up about 29 per cent to Rs 103.14 crore during the year ended March 31, 2005, a company statement said.

The company said it won a new contract from middle east's largest bank and added 18 new clients worldwide, taking the overall client list to 97.

Patni Q1 net profit down 5.8%

Patni Computer first quarter (January-March) net profit on a consolidated US Generally Accepted Accounting Practices basis declined 5.8 per cent to Rs 68.22 crore from Rs 72.44 crore in the corresponding quarter of the previous year. Revenues are up 7.2 per cent at Rs 433.74 crore (Rs 401.25 crore). A rise in tax provision has brought about the drop in net profit, the company said.

Patni Computer is also contemplating an American depository receipt (ADR) issue. The offering is expected to be registered with the US Securities and Exchange Commission (SEC).

The proceeds of the offering will be used primarily for the construction and development of new infrastructure facilities in India as well as for other general corporate purposes. The offering is expected to be conducted during the second or third quarter of this calendar year, the company said.

Praj Industries Q4 net up 74%

Praj Industries has registered a 74 per cent increase in its net profit at Rs 5.85 crore for the fourth quarter ended March 31, 2005, compared with Rs 3.36 crore posted during the corresponding quarter of the previous year. Total income grew 119 per cent at Rs 69.67 crore (Rs 31.83 crore).

The consolidated net profit rose 176 per cent at Rs 22.47 crore for the year ended March 2005, compared with Rs 8.13 crore for the previous financial year. Total sales for the year rose 116 per cent at Rs 234.96 crore (Rs 108.65 crore). The board has declared a second interim of 72 per cent.