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Pentagon Global Q2 net at Rs 4 crore

Our Bureau

CHENNAI, Oct. 29

THE Chennai-based Pentagon Global Solutions Ltd has reported a net profit of Rs 4.02 crore, on income from operations of Rs 15.04 crore for the quarter ended September 30, compared to a net profit of Rs 1.20 crore, on income from operations of Rs 1.20 cr ore for the same period last year.

Other income was Rs 10.52 lakh (Rs 8.79 lakh), total expenditure was Rs 10.36 crore (Rs 1.02 crore), interest and finance charges were Rs 5.25 lakh (Rs 6.36 lakh) and depreciation Rs 37.83 lakh (Rs 8.15 lakh).

For the half-year ended September 30, the company reported a net profit of Rs 5.44 crore, on income from operations of Rs 20.60 crore, compared to a net profit of Rs 21.40 lakh, on income from operations of Rs 2.30 crore for the same period last year.

Other income was Rs 13.04 lakh (Rs 14.81 lakh), total expenditure was Rs 14.35 crore (Rs 1.96 crore), interest and finance charges were Rs 10.10 lakh (Rs 9.07 lakh) and depreciation Rs 60.99 lakh (Rs 16.20 lakh).

The company's Executive Director, Mr M. Suresh Krishnan, told Business Line that software exports, which started in the last fiscal, led to a ``quantum'' jump in the net profit this year.

To facilitate exports the company plans to start a Singapore subsidiary on November 15, at a cost of S$100,000, and a Dubai unit on November 18, at a cost of 300,000 dirham. The two subsidiaries will be funded through internal accruals, he said. The com pany also plans to set up a joint venture either in this quarter, or the next.

For the year ending March 31, 2001, the company expects to post a turnover of Rs 40-42 crore. The company will concentrate on B2B (business-to-business) and Internet related projects, he said.