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Aztec net profit rises 390 pc

Our Bureau

BANGALORE, April 9

AZTEC Software and Technology Services Ltd has posted a 476 per cent rise in turnover and 390 per cent in net profit for the year ended March 31, 2001 over the previous corresponding period.

The company has posted a net profit of Rs 20.15 crore on a turnover of Rs 78.87 crore, as compared to a net of Rs 4.11 crore on a turnover of Rs 13.69 crore in the corresponding previous fiscal.

For the quarter ended March 31, 2001, the company posted a turnover of Rs 24.54 crore and a net profit of Rs 6.01 crore.

This compares with a turnover of Rs 7.96 crore and net profit of Rs 2.88 crore posted in the same quarter last year, showing a growth of 208 per cent in terms of turnover and 109 per cent in terms of net profit.

The board of directors of the company has recommended payment of dividend at 10 per cent, which works out to 30 paise on per equity share with a face value of Rs 3.

It will be paid in full on all the equity shares outstanding as on March 31, 2001, irrespective of when the shares were issued, according to a company release.

While a significant portion of the revenue growth has come from repeat business from existing customers, the company added some six new customers in the last quarter.

The company's recent Master Business Agreement with Microsoft is expected to translate into growth in billed revenues for the company during subsequent quarters.

The company's consolidated turnover for its worldwide operations stood at Rs 80.66 crore, showing a growth of 430 per cent.