Investor
Relations
Unaudited
Financial Results for the 3rd Quarter and nine months ended 31st
December 2001
| |
UNAUDITED |
AUDITED
|
| |
Quarter
Ended 31.12.2001 |
Quarter
Ended 31.12.2000 |
Nine
months ended 31.12.2001 |
Nine
months ended 31.12.2000 |
|
| 1. |
Net Sales/Income
from operations |
103.35 |
133.94 |
361.24 |
376.53 |
515.20 |
| 2. |
Other Income |
1.40 |
1.73 |
5.08 |
4.28 |
8.42 |
| 3. |
Total Income |
104.75 |
135.67 |
366.32 |
380.81 |
523.62 |
| 4. |
Total Expenditure |
102.64 |
119.40 |
342.98 |
347.04 |
468.78 |
| a) |
(Increase)/Decrease
in stock in trade |
(2.04) |
(1.24) |
9.24 |
(0.18) |
(4.73) |
| b) |
Consumption
of raw materials |
20.80 |
34.32 |
73.78 |
92.84 |
130.22 |
| c) |
Staff Cost |
29.54 |
25.97 |
91.53 |
79.98 |
106.52 |
| d) |
Overseas
Business expenses |
24.58 |
35.06 |
85.98 |
101.98 |
136.86 |
| e) |
Other expenditure |
29.76 |
25.29 |
82.45 |
72.42 |
99.91 |
| 5. |
Interest |
0.27 |
0.82 |
1.02 |
2.27 |
3.00 |
| 6. |
Depreciation |
3.99 |
5.26 |
12.21 |
13.58 |
17.70 |
| 7. |
Profit /
(Loss) before Tax |
(2.15) |
10.19 |
10.11 |
17.92 |
34.14 |
| 8. |
Provision
for Taxation ( Net) |
(4.35) |
1.81 |
(3.47) |
3.97 |
7.60 |
| 9. |
Net Profit
After all Taxes |
2.20 |
8.38 |
13.58 |
13.95 |
26.54 |
| 10. |
Paid-up
Equity Share Capital |
18.38 |
18.38 |
18.38 |
18.38 |
18.38 |
| 11. |
Reserves
excluding revaluation reserves |
- |
- |
- |
- |
157.48 |
| 12. |
Basic &
Diluted EPS |
1.20 |
4.56 |
7.39 |
7.59 |
14.44 |
| 13. |
Aggregate
of non-promoter's share holding No. of shares |
4641737 |
N.A. |
4641737 |
N.A. |
N.A. |
| |
% of shareholding |
25.25 |
N.A. |
25.25 |
N.A. |
N.A. |
Segment wise
Revenue, Results and Capital employed for the Quarter and Nine
months ended 31st December, 2001
| |
Quarter
Ended 31.12.2001 |
Nine
months ended 31.12.2001 |
| 1.
Segment Revenue a.
System Integration & Services
b. Manufacturing Services
c. Education Services
Net Sales/Income from Operations |
85.51
9.45
8.39
103.35 |
307.30
28.96
24.98
361.24 |
| 2.
Segment Results* a.
System Integration & Services
b. Manufacturing Services
c. Education Services
Total
Less : Interest
Less: Unallocable expenditure net of unallocable income
* Total Profit / (Loss) before Tax
* The segment results need to be viewed in
the context of unallocable expenditure of Rs. 5.88
crores (gross) and Rs. 18.94 crores (gross) for the
quarter and nine months ended December 31, 2001 respectively,
relating to the three segments. |
(0.75)
3.62
(0.27)
2.60
0.27
4.48
(2.15) |
15.16
13.46
(3.63)
24.99
1.02
13.86
10.11 |
| 3.
Segment Capital Employed a.
System Integration & Services
b. Manufacturing Services
c. Education Services
Total Segment Capital Employed |
143.27
10.84
(3.49)
150.62 |
143.27
10.84
(3.49)
150.62 |
|
Notes :
-
The Company's
revenue and profitability were impacted severely in the quarter
under review by a greater than anticipated slowdown in its
business. This trend is expected to continue for the rest
of the financial year. The results of increased marketing
efforts in the USA and Europe as well as major cost reduction
measures are expected to be reflected in the Company's performance
only in the next financial year.
-
For the nine
months ended December 31, 2001, Total Income declined to Rs.
366.32 crores from Rs. 380.81 crores in the previous year
and Net Profit declined to Rs. 13.58 crores from Rs. 13.95
crores. In the quarter ended December 31, 2001, Total Income
declined to Rs. 104.75 crores from Rs. 135.67 crores in the
previous year, and Net Profit declined to Rs. 2.20 crores
from Rs. 8.38 crores.
-
Other expenditure
includes provision for bad and doubtful debts of Rs. 5.36
crores (net) for the quarter ended December 31, 2001 (previous
year's quarter : Rs. 2.46 crores-net ), and Rs. 11.62 crores
(net) for the nine months ended December 31, 2001, (previous
year's nine months : Rs. 5.85 crores - net).
-
In accordance
with the new Accounting Standard AS 22 relating to "Accounting
for Taxes on Income", the company has recorded deferred
tax credits for the quarter and nine months ended December
31, 2001 amounting to Rs. 1.20 crores and Rs. 3.06 crores
respectively. Since this standard has become mandatory from
April 1, 2001, figures for the previous period have not been
recast.
-
Provision for
taxation for the quarter and nine months ended December 31,
2001 is net of Rs. 2.10 crores and Rs. 6.30 crores respectively
pertaining to overseas tax written back for prior years. The
comparable figures for overseas tax written back for the quarter
and nine months ended December 31, 2000 amounted to Rs. 1.56
crores and Rs. 3.67 crores respectively. In view of the decrease
in profits, the company has also reversed Rs. 1.30 crores
of the provision for overseas tax made for the half-year ended
September 30, 2001.
-
Figures for
the previous period have been re-grouped wherever necessary.
-
The above unaudited
results have been taken on record by the Board of Directors
at the meeting held on January 24, 2002.
| Place
: Mumbai
Date : 24th January, 2002 |
For and on
behalf of the Board of Director
Dr. Nirmal Jain
Managing Director |
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