Pentafour Software- Net soars 74%,declares bonus.
Thursday, April 29, 1999
Pentafour Software declares bonus, net soars 74% to Rs 119.12 cr
TMA Raman
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CHENNAI, Apr 28: Pentafour Software & Exports Ltd has declared a 1:1 bonus and stepped up its dividend to 70 per cent for the year ended March 31, 1999. It had declared an interim dividend of 30 per cent earlier. The net profit has shot up by 74 per cent to Rs 119.12 crore, from Rs 68.37 crore.
The turnover jumped by a whopping 85 per cent to Rs 526 crore, from Rs 284 crore posted in the previous year. About 54 per cent of sales came from the multimedia division, which accounted for Rs 284 crore. The business- software segment has contributed Rs 242 crore (46 per cent of turnover).
Funds raised through private placement at a premium has enabled the company to pre-pay its high-cost borrowings worth Rs 104.30 crore. It has sought finance ministry permission to pre-pay its external- commercial borrowings worth Rs 63.50 crore, claiming it has enough cash as bank deposits for this purpose.
The company's bonus issue equity, which had gone up to Rs 19.97 crore from Rs 17.04 crore in the previous year, will nowdouble to Rs 39.94 crore. Reserves shot up substantially by 120 per cent to Rs 534 crore, from Rs 243 crore.
The company claims current orders are worth $149 million and these are to be executed in the next 15 months.
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