India's Pentafour Q2 Profit Rises 67% as Orders Surge
Pentafour (India)
pentafour.com
Pentafour (USA)
pentafourss.com
(Update1)
10/14/99 5:37:00 AM
Source: Bloomberg News
Mumbai, Oct. 14 (Bloomberg) -- Pentafour Software & Exports Ltd., India's second-largest software and computer graphics companies by sales, said profit rose 67 percent in the second quarter on greater global demand for its animation services.
Profit rose to a 367.8 million rupees ($8.5 million) in the three months ended September from 221 million rupees in the year- earlier period. Sales climbed to 1.77 billion rupees compared with 1.19 billion rupees.
"The earnings are in line with my expectations and I expect profits to grow 55 percent in the fiscal year ending 2001," said Jayesh Parekh, an analyst with SMIFS Securities, in Mumbai.
The company added 35 more clients in its software division and has software development orders worth $65 million in hand.
However, it is the computer graphics division, which has the bulk of the orders. Pentafour added eight new computer graphic and animation projects and has $82 million worth orders in hand.
"For the same man hours spent, we get as much as 4 1/2 times more from multimedia projects than software development," V. Chandrasekaran, chairman and managing director of the company, said in an interview.
The company now earns 55 percent of its revenue from such computer animation projects, while the rest comes from the sale of computer software and services abroad.
Its stock, that's doubled this year, fell 4.9 percent to 736.00 on the Stock Exchange, Mumbai |
