Visualsoft Q1 net dips 24%

Visualsoft Technologies has reported a 24% dip in net profit at Rs 5.98 crore in Q1FY06 as compared to Rs 7.90 crore in Q1FY05. Total income has increased to Rs 52.05 crore for the quarter ended June 30, 2005 from Rs 46.21 crore in Q1FY05.

According to a release issued by Visualsoft to the BSE, DVS Raju, the company CMD has resigned as MD, but will continue to be non-executive chairman of the company and is responsible for mentoring the core management team.

Sudhakar R Gunturu, wholetime director, has been appointed as MD with effect from July 25, 2005 for a period of 5 years, while V Krishnan, vice-president (finance), has been promoted as CFO of the company, the release said.