Financial Daily from THE HINDU group of publications
Saturday, Apr 12, 2003
Financial Daily from THE HINDU group of publications Saturday, Apr 12, 2003 |
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Corporate Results
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Software Info-Tech - Software Aztec Software posts Rs 3.4-cr loss for year Our Bureau
BANGALORE, April 11 AZTEC Software and Technology Services has reported a net loss of Rs 3.36 crore against a net profit of Rs 16.94 crore in the previous year. Revenues for the year slid by close to 38 per cent to Rs 43.85 crore as against Rs 70.39 crore a year ago. For the fourth quarter ended March 31, 2003, the company's net loss was extended to Rs 2.82 crore from Rs 28 lakh sequentially. The company reported a charge of Rs 1.05 crore towards management restructuring. Aztec's Q4 revenues was Rs 7.61 crore as against Rs 11.62 crore in previous quarter. The company has announced a change in management as Mr S. Parthasarathy, chairman of the board, founder and previous CEO has taken over the role of CEO again. Mr William C. Brown, president and CEO has stepped down from his position. The company has picked up its chief financial officer, Mr A.G. Muralikrishnan to drive the company's newly formed banking and financial services unit.
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