• search

PSI Data out of red, earns 1.35 crore net profit

Written by: Staff

Bangalore, Apr 19 (Uni) - PSI Data Systems Limited, the IT solutions business of the Aditya Birla Group has posted a revenue of Rs. 85.80 crore and a net profit of Rs.1.35 crore for the year ended March 31, 2006.

The Company which had incurred a loss of Rs.2.55 crore previous fiscal had come out of the red, accordiing to a PSI Data Systems release here today.

For the fourth quarter ended March 31, 2006, it posted a revenue of Rs. 25.48 crore and a net profit of Rs.1.53 crore as compared to a turnover of Rs.19.84 crore and a net loss of Rs. 37.43 lakhs in Q4 2005.

In terms of sequential quarter growth, revenues grew 20 per cent while net profit grew 159 per cent over the previous quarter ended December 31, 2005.

Over the last eight quarters, PSI's operations have been turning profitable with the quarter-on-quarter positive EBITDA growing strongly. The Year-on-year revenue growth was marginal at four per cent, however the revenue numbers has to be seen in the context of significantly higher offshore revenues.

The Aditya Birla group currently held a 71 per cent stake in PSI Data Systems which moved into its new state-of-the-art campus here.

Commenting on PSI's performance, Mr. Sanjeev Aga, Managing Director, Aditya Birla Nuvo and Director, PSI Data Systems stated, ''PSI Data is an important element in Aditya Birla Nuvo's mix of growth and value businesses. The company's return to profits is most heartening and surely a prelude to even stronger performance in the coming years''.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more