Investor Relations
| FINANCIAL
RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30,
2002 |
| (
Rs.Crores ) |
|
|
UNAUDITED |
AUDITED |
UNAUDITED |
AUDITED |
|
|
Quarter
Ended 30.09.2002 |
Quarter
Ended 30.09.2001 |
Six
Months Ended
30.09.2002
|
Six
Months Ended
30.09.2001
|
Year
Ended
31.03.2002
|
| 1. |
Net Sales/Income from Operations |
103.01
|
125.96
|
198.80
|
257.53
|
475.10
|
| 2.
|
Other
Income |
1.94
|
2.12
|
4.05
|
3.90
|
8.20
|
| 3. |
Total Income |
104.95
|
128.08
|
202.85
|
261.43
|
483.30
|
| 4. |
Total Expenditure |
99.84
|
118.36
|
198.44
|
240.20
|
453.94
|
| a) |
(Increase) / Decrease in stock in trade |
(1.47)
|
9.71
|
(2.19)
|
11.39
|
12.43
|
| b) |
Consumption of materials |
25.16
|
23.84
|
49.97
|
52.88
|
102.47
|
| c) |
Staff cost |
26.68
|
31.17
|
55.46
|
61.99
|
120.05
|
| d) |
Overseas Business Expenses |
25.71
|
27.07
|
51.10
|
60.87
|
112.10
|
| e) |
Other expenses |
23.76
|
26.57
|
44.10
|
53.07
|
106.89
|
| 5. |
Interest |
0.20
|
0.35
|
0.60
|
0.75
|
1.24
|
| 6. |
Depreciation |
3.43
|
4.04
|
6.98
|
8.22
|
16.06
|
| 7. |
Profit / (Loss) before Tax |
1.48
|
5.33
|
(3.17)
|
12.26
|
12.06
|
| 8. |
Provision for Taxation |
|
|
|
|
|
| |
Current
Tax |
0.19
|
2.34
|
0.49
|
6.64
|
2.56
|
| |
Deferred
Tax |
(0.66)
|
(1.06)
|
(1.39)
|
(1.86)
|
(3.16)
|
| |
Tax
Adjustment for prior years |
(2.15)
|
(1.92)
|
(5.25)
|
(3.90)
|
(7.84)
|
| 9. |
Net Profit after all Taxes |
4.10
|
5.97
|
2.98
|
11.38
|
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 (not annualised for the quarter/half year)
|
2.23
|
3.25
|
1.62
|
6.19
|
11.15
|
| |
Aggregate
of non-promoter's shareholding |
|
|
|
|
|
| |
No.
of shares |
4644737
|
4679555
|
4644737
|
4679555
|
4641737
|
| |
%
of shareholding |
25.27
|
25.46
|
25.27
|
25.46
|
25.25
|
Segment
wise Revenue, Results and Capital employed under clause 41 of
the Listing Agreement
|
(Rs. Crores) |
| |
UNAUDITED |
AUDITED |
AUDITED |
| |
Quarter Ended 30.09.2002 |
Six
Months Ended 30.09.2002 |
Year
Ended 31.03.2002 |
| 1.
Segment Revenue |
|
|
|
| a.
System Integration Services |
87.64
|
169.60
|
403.12
|
| b.
Manufacturing Services |
10.16
|
20.02
|
40.16
|
| c.
Education Services |
6.18
|
10.62
|
33.96
|
| Net
Sales / Income from Operations (Net of Excise Duty) |
103.98
|
200.24
|
477.24
|
|
|
|
|
|
| 2.
Segment Results |
|
|
|
| a.
System Integration Services |
2.38
|
(1.64)
|
8.60
|
| b.
Manufacturing Services |
3.13
|
7.00
|
17.76
|
| c.
Education Services |
(2.39)
|
(5.19)
|
(5.54)
|
| Total
|
3.12
|
0.17
|
20.82
|
| Less:
Interest |
0.20
|
0.60
|
1.24
|
| Less:
Unallocable expenditure net of unallocable income |
1.44
|
2.74
|
7.52
|
| Total
Profit / (Loss) before Tax |
1.48
|
(3.17)
|
12.06
|
|
|
|
|
|
| 3.
Segment Capital Employed |
|
|
|
| a.
System Integration Services |
120.01
|
120.01
|
134.54
|
| b.
Manufacturing Services |
11.65
|
11.65
|
9.59
|
| c.
Education Services |
(5.65)
|
(5.65)
|
(3.48)
|
| Total
Segment Capital Employed |
126.01
|
126.01
|
140.65
|
Notes:
- The
above results have been taken on record by the Board of Directors
at the meeting held on 27 th November 2002.
-
Reflecting the impact of the continuing slowdown in the Company's
operations in both the overseas and domestic markets, Total
Income declined by 18% to Rs. 104.95 crores and the Net Profit
declined by 31% to Rs. 4.10 crores . in the quarter ended 30
th September 2002. For the half year ended 30 th September 2002,
Net Profit declined by 74% to Rs. 2.98 crores (previous years'
first half : Rs. 11.38 crores )
-
Other expenditure includes bad debts written off and provision
for bad and doubtful debts of Rs. 1.04 crores (net) for the
quarter ended 30 th September 2002, (previous year's quarter
: Rs.3.34 crores - net) and Rs. 3.10 crores (net) for the half
year ended 30 th September 2002 (previous year's first half
: Rs. 6.26 crores - net).
-
The development of technology in the potentially promising XML
documentation field is
progressing well through the Company's 100% subsidiary, Exegenix
Canada Inc.
-
Segment Revenue includes Other Income attributable to the respective
segments.
- The
results for the six months period ending September 30, 2002
have been extracted from the audited condensed financial statements
prepared in accordance with the Accounting Standards (AS 25)
on Interim Financial Reporting.
- Figures
for the previous periods have been re-grouped wherever necessary.
| Place
: Mumbai
Date : 27th
November, 2002 |
For and on
behalf of the Board of Director
F. K. Kavarana
Chairman |
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