Investor Relations
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST
DECEMBER 2002.
|
|
|
Unaudited |
Unaudited |
Audited |
| |
|
Quarter ended 31.12.2002 |
Quarter ended 31.12.2001 |
Nine months ended 31.12.2002 |
Nine months ended 31.12.2001 |
Year
ended
31.3.2002 |
| 1. |
Net
Sales/Income from operations |
100.96 |
103.17 |
299.76 |
360.70 |
475.10 |
| 2. |
Other
Income |
2.41 |
1.44 |
6.46 |
5.34 |
8.20 |
| 3. |
Total
Income |
103.37 |
104.61 |
306.22 |
366.04 |
483.30 |
| 4. |
Total
Expenditure |
98.35 |
102.50 |
296.80 |
342.70 |
453.94 |
|
|
a)
(Increase)/Decrease in stock in trade |
1.01 |
(1.96) |
(1.17) |
9.43 |
12.43 |
|
|
b)
Consumption of raw materials |
17.06 |
20.71 |
67.03 |
73.59 |
102.47 |
|
|
c)
Staff Cost |
29.99 |
29.54 |
85.45 |
91.53 |
120.05 |
|
|
d)
Overseas Business expenses |
27.43 |
24.65 |
78.54 |
85.52 |
112.10 |
|
|
e)
Other expenditure |
22.86 |
29.56 |
66.95 |
82.63 |
106.89 |
| 5. |
Interest |
0.08 |
0.27 |
0.68 |
1.02 |
1.24 |
| 6. |
Depreciation |
3.12 |
3.99 |
10.10 |
12.21 |
16.06 |
| 7. |
Profit
/ (Loss) before Tax |
1.82 |
(2.15) |
(1.36) |
10.11 |
12.06 |
| 8. |
Provision
for Taxation ( Net)
Current
Tax
Deferred
Tax
Tax
Adjustment for prior years |
0.12
(1.08)
(2.11) |
(1.15)
(1.20)
(2.00) |
0.61
(2.47)
(7.36) |
5.49
(3.06)
(5.90) |
2.56
(3.16)
(7.84) |
| 9. |
Net
Profit after all Taxes |
4.89 |
2.20 |
7.86 |
13.58 |
20.50 |
| 10. |
Paid-up
Equity Share Capital(Face
Value Rs.10/- per share) |
18.38 |
18.38 |
18.38 |
18.38 |
18.38 |
| 11. |
Reserves
excluding revaluation reserves |
- |
- |
- |
- |
172.24 |
| 12. |
Basic
& Diluted EPS (Rs) (not
annualised for the quarter/nine months) |
2.66 |
1.20 |
4.28 |
7.39 |
11.15 |
| 13. |
Aggregate
of non-promoter's share holding |
|
|
|
|
|
| |
No.
of shares |
4644737 |
4641737 |
4644737 |
4641737 |
4641737 |
|
|
%
of shareholding |
25.27 |
25.25 |
25.27 |
25.25 |
25.25 |
Segment
wise Revenue, Results and Capital employed under clause 41 of
the Listing Agreement
| |
Unaudited |
Unaudited |
Audited |
| |
Quarter
ended 31.12.2002 |
Quarter
ended 31.12.2001 |
Nine
months ended
31.12.2002 |
Nine
months ended
31.12.2001 |
Year
ended 31.3.2002 |
| 1.
Segment Revenue |
|
|
|
|
|
| a.
System Integration Services |
81.98
|
85.56
|
251.58
|
307.63
|
403.12
|
| b.
Manufacturing Services |
11.24
|
9.40
|
31.27 |
28.81 |
40.16
|
| c.
Education Services |
8.63 |
8.39
|
19.25 |
24.98
|
33.96 |
| Net
Sales/Income from Operations |
101.85 |
103.35 |
302.10 |
361.42 |
477.24 |
| |
|
|
|
|
|
| 2.
Segment Results |
|
|
|
|
|
| a.
System Integration Services |
(1.58) |
(3.61) |
(3.23) |
8.74 |
8.60 |
| b.
Manufacturing Services |
3.82 |
3.57 |
10.82 |
13.14 |
17.76 |
| c.
Education Services |
0.77
|
(0.42) |
(4.41) |
(3.97) |
(5.54) |
| Total |
3.01 |
(0.46) |
3.18 |
17.91 |
20.82 |
| Less
: Interest |
0.08 |
0.27 |
0.68 |
1.02 |
1.24 |
| Less:
Unallocable expenditure net of unallocable income |
1.11 |
1.42 |
3.86 |
6.78 |
7.52 |
|
Total Profit / (Loss) before Tax |
1.82 |
(2.15) |
(1.36) |
10.11 |
12.06 |
| |
|
|
|
|
|
| 3.
Segment Capital Employed |
|
|
|
|
|
| a.
System Integration Services |
106.92 |
143.28 |
106.92 |
143.28 |
134.54 |
| b.
Manufacturing Services |
17.42 |
10.84 |
17.42
|
10.84 |
9.59
|
| c.
Education Services |
(1.85)
|
(3.49)
|
(1.85) |
(3.49) |
(3.48) |
|
Total Segment Capital Employed |
122.49 |
150.63 |
122.49 |
150.63 |
140.65 |
Notes:
-
The
above unaudited results have been taken on record by the Board
of Directors at the meeting held on 24th January
2003.
-
The
Company's operations continue to be impacted by a lower demand
for its products and services. Some of the measures taken
by the Company to improve its profitability have resulted
in a net profit after tax of Rs. 4.89 crores in the third
quarter ended 31st December 2002 (previous year's
third quarter : Rs 2.20 crores) on a marginally lower level
of total income of Rs 103.37 crores. For the nine months ended
31st December 2002 the total income declined to
Rs. 306.22 crores (previous year nine months : Rs 366.04 crores)
and the net profit after tax for the same period fell to Rs
7.86 crores(previous year nine months : Rs 13.58 crores).
-
Other
expenditure includes bad debts written off and provision for
bad and doubtful debts of Rs.3.54 crores (net) for the third
quarter (previous year's third quarter: Rs 5.36 crores-net)
and Rs 6.64 crores (net) for the nine month period (previous
year nine months : Rs 11.62 crores-net).
-
The
Company has invested Rs. 10.65 crores in acquiring 40% of
the share capital of Sitel India Pvt. Ltd., a joint venture
between Systems Integrated Telemarketing Netherlands BV (a
subsidiary of Sitel Corporation, USA) and the Tata group.
This company is engaged in the IT enabled services business(Contact/Call
Center Services).
-
Segment
Revenue includes Other Income attributable to the respective
segments.
-
Figures
for the previous period have been re-grouped wherever necessary.
| Place
: Mumbai
Date : 24th
January 2003 |
For and on
behalf of the Board of Director
F. K. Kavarana
Chairman |
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