The Hindu Business Line : Crane Soft Q1 net falls

Higher interest outgo and increased employee costs impacted Crane Software International Ltd’s consolidated net profits for the June quarter. The net fell by a little over tenth from a year ago.

Cranes reported a 11-per cent decline in the June quarter consolidated net profits to Rs 28.10 crore against Rs 31.81 crore in corresponding last quarter. Revenues were up 6 per cent to Rs 121.80 crore, (Rs 115.27 crore).

The interest component grew 80 per cent to Rs 9.44 crore (Rs 5.22 crore) during the quarter, while employee costs rose 47 per cent to Rs 21.91 crore (Rs 14.89 crore). Shares of Cranes Software ended marginally lower at Rs 42.30 on the BSE on Friday.

“Our strategy of streamlining supply chain by consolidating operations across geographies and enhancement of operating efficiencies by devising strict measures to negotiate the recent rise in average collection period is beginning to show results. These actions will help mitigate cash flow constraints faced during the quarter,” said Mr Asif Khader, Managing Director, CSIL, in a statement.

Further, the company is enhancing its interface with customers for direct sale of proprietary products particularly in locations where it has close proximity to direct offices.

More Stories on : Financial Performance | Software

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Four Soft gets UGL as client

Crane Soft Q1 net falls

Northgate Tech reports Rs 45-cr loss

Firstsource posts Rs 38-cr profit

RCom net up 8.3%

ICSA India net down 17 pc

Printer sales nearly flat in fiscal ’09

Odyssey Tech’s tool for banks

MindTree to build ‘white label’ products

New tool from Global Outlook

DoT suggests WiMax base price at 25% of 3G reserve

CISF to guard Infosys

IT budgets to rise next year: Gartner

Tech M, Satyam to share office infrastructure