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UNAUDITED FINANCIAL RESULTS FOR THE QUARTER YEAR ENDED 30^TH JUNE, 2002
(Rs.Crores)
	UNAUDITED		AUDITED
	Quarter Ended 30-6-2002	Quarter Ended 30-6-2001	Year Ended 31-3-2002
1. Net Sales/Income from Operations (Net of Excise Duty)	95.79	131.57	475.10
2. Other Income	2.11	1.77	8.20
3. Total Income	97.90	133.34	483.30
4. Total Expenditure	98.59	121.83	453.94
a) (Increase) / Decrease in stock in trade	(0.69)	1.67	12.43
b) Consumption of raw materials	24.78	29.03	102.47
c) Staff cost	28.81	30.82	120.05
d) Overseas Business Expenses	25.50	34.03	113.09
e) Other expenditure	20.19	26.28	105.90
5. Interest	0.40	0.40	1.24
6. Depreciation	3.55	4.18	16.06
7. Profit / (Loss) before Tax	(4.64)	6.93	12.06
8. Provision for Taxation (Net)	(3.51)	1.51	(8.44)
9. Net Profit / (Loss) after all Taxes	(1.13)	5.42	20.50
10.Paid-up Equity Share Capital	18.38	18.38	18.38
11.Reserves excluding revaluation reserves			172.24
12.Basic & Diluted EPS (not annualised for the quarters)	(0.62)	2.95	11.15
13.Aggregate of non-promoter’s shareholding
No. of shares	4644737	4691737	4641737
% of shareholding	25.27	25.52	25.25

SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41 OF THE LISTING AGREEMENT
	Unaudited Quarter ended 30-6-2002	Audited Year Ended 31-3-2002
1. Segment Revenue
a. System Integration Services	81.96	403.12
b. Manufacturing Services	9.86	40.16
c. Education Services	4.44	33.96
Net Sales / Income from Operations (Net of Excise Duty)	96.26	477.24

2. Segment Results
a. System Integration Services	(4.03)	8.60
b. Manufacturing Services	3.88	17.76
c. Education Services	(2.80)	(5.54)
Total	(2.95)	20.82
Less: Interest	0.40	1.24
Less: Unallocable expenditure net of unallocable income	1.29	7.52
Total Profit / (Loss) before Tax	(4.64)	12.06

3. Segment Capital Employed
a. System Integration Services	127.31	134.54
b. Manufacturing Services	9.88	9.59
c. Education Services	(4.88)	(3.48)
Total Segment Capital Employed	132.31	140.65

Notes:

The above results have been taken on record by the Board of Directors at the meeting held on 26^th July ; 2002.
The operating performance of the company reflects the impact of the continuing slow down of its business in both domestic and overseas markets. In the April-June 2002 quarter, Total Income declined by 27% to Rs.97.90 crores and the Net Loss was Rs.1.13 crores(previous year's quarter: Profit Rs 5.42 crores).
Other expenditure includes provision for bad and doubtful debts of Rs. 2.06 crores (net) for the quarter ended 30^thJune 2002, (previous year's quarter: Rs.2.92 crores - net).
Deferred tax asset for the quarter ended 30^th June 2002 amounted to Rs.0.73 crores (previous year's quarter: Rs 0.80 crores).
Provision for Taxation for the quarter ended 30^th June 2002 is net of tax adjustments for prior
years of Rs3.09 crores (previous year's quarter: Rs. 1.45 crores ) and after considering
provision for tax for the quarter of Rs 0.31 crores ( previous year’s quarter: Rs 3.76
crores).
Segment Revenue includes Other Income attributable to the respective segments.
During the quarter, a subsidiary was formed in Germany. The subsidiary has not yet
commenced its operations.
Figures for the previous periods have been re-grouped wherever necessary.

For and on behalf of the

Board of Directors

Place: Mumbai	F.K.Kavarana Date: 26^th July, 2002
Date: 26th July, 2002	Chairman