Financial Daily from THE HINDU group of publications
Sunday, Apr 30, 2006
Financial Daily from THE HINDU group of publications Sunday, Apr 30, 2006 |
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Corporate Results
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Software Info-Tech - Financial Performance KPIT Cummins total revenues at Rs 318.21 cr Our Bureau
Pune , April 29 KPIT Cummins Infosystems Ltd, IT consulting organisation has recorded total revenues of Rs 318.21 crore for the fiscal ended March 2006 as against Rs 252.45 crore for the corresponding period last year, registering a growth of 26 per cent over the previous year. Net profits for March 2006 was Rs 32.56 crore (Rs 28.39 crore), 15.96 per cent over the previous year. Earning per share for FY06 was Rs 22.72 (Rs 22.14 ). The fourth quarter revenues stood at Rs 90.16 crore Rs 67.27 crore Net profit for the quarter was Rs 10.27 crore compared to Rs 7.82 crore for the corresponding period last year.
2006-07 guidance
The company's guidance for the financial year 2006-07 for net profits is in the range of $11.25-12 million (representing an annual growth of 51 per cent to 61 per cent over FY06). Consolidated revenue guidance is in the range of $98-102 million , representing a growth of 34-40 per cent over FY06 revenues, an official release said. The board of directors has approved an increase in authorised share capital from Rs 12 crore to Rs 30 crore. It has also recommended payment of 35 per cent dividend or Rs 1.75 per share of face value of Rs 5 each. The board also appointed Dr Vijay Kelkar as an Independent Director of the company. He has served the Government of India in various capacities, most recently as the Advisor to the Ministry of Finance. Mr Anand Khandekar has resigned from the Board of KPIT Cummins.
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