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Global Tele-Systems net up 53 pc in Q3

MUMBAI: Global Tele-Systems Ltd (GTL) has reported a 53 per cent rise in net profit for the third quarter ended December 31, 1999, at Rs. 26.99 crores as against Rs. 17.62 crores in the corresponding period last year.

During the same period, total income increased to Rs. 162.13 crores (Rs. 136.35 crores). Total expenditure moved up to Rs. 108.93 crores (Rs. 101.19 crores). Interest cost was higher at Rs. 9.44 crores (Rs. 9.11 crores). Depreciation shot up to Rs. 14.54 crores (Rs. 4.18 crores). Provision for taxation declined to Rs. 1.50 crores (Rs. 4.25 crores).

According to GTL, it has placed non-convertible debentures aggregating Rs. 180 crores to a consortium of investors which could be redeemed for equity shares of Global Electronic Commerce Services Ltd (held by GTL) at a base price of Rs. 200 per share wit hin a period of 120 days.

Soffia Software Q2

net increases

CHENNAI: Soffia Software Ltd has reported a net profit of Rs. 95.53 lakhs for the second quarter ended December 31, 1999, as against Rs. 9.84 lakhs for the corresponding quarter previous year.

Sales was Rs. 3.10 crores as against Rs. 46.21 lakhs, while total expenditure was Rs. 1.93 crores (Rs. 30.45 lakhs). After an interest of Rs. 79,000 (Rs. 56,000), the gross profit was Rs. 1.15 crores (Rs. 15.20 lakhs). Depreciation was Rs. 20.44 lakhs (R s. 5.36 lakhs) and there was no provision for taxation.

For the first half-ended December 31, 1999, the company has reported a net profit of Rs. 1.33 crores (Rs. 20.98 lakhs) on a turnover of Rs. 4.54 crores (Rs. 1.02 crores). For the year ended June 30, 1999, the company reported a net profit of Rs. 61.62 la khs on a sales of Rs. 2.42 crores.

According to a company statement, exports constituted about 52 per cent of the revenues during the second quarter, and the order-book position of the company is $8.53 millions, which will be executed over a period of 15 to 18 months.

Soffia is in the process of tying up with a US-based software development company for implementing customer relationship management (CRM) and supply chain management (SCM) solutions.

After bagging a prestigious order from British group for the development and maintenance of its B2C portals of its shopping malls, the company is in the final stage of negotiations for the development of B2B solutions for an Indian company, according to the statement.

1:3 bonus from

Mascon Global

CHENNAI: The board of directors of Mascon Global Ltd has decided to issue one bonus share to the shareholders for every three held by them. The board has also approved issue of Rs. 65-crore worth equity shares to foreign collaborators on a preferential b asis. The board has also cleared the issue to place Rs. 100 crores worth equity to mutual funds, other corporate bodies, pension funds, etc. _ Our Bureaus

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