Megasoft revenue up by 59 pc in Q-1

Hyderabad, July 30 (UNI) Megasoft Limited, a transnational intellectual property-driven, product-based technology company, has announced that its PAT stood at Rs 9.45 crore for the quarter ended 30, 2007 as compared to Rs 8.07 crore in the corresponding period last year.

The revenues grew by 59 per cent to Rs 60.11 crore for the quarter (Rs 37.72 crore in Q2 FY 06), Managing Director&CEO, G V Kumar said in a statement today.

Telecom revenues for the quarter have grown by 77 per cent to Rs 24.49 crore from Rs 13.83 crore.

It acquired three new telecom clients during the quarter, giving an impetus to new customer acquisition-led growth strategy.

Mr Kumar said the company had taken concrete strides in the quarter by proposing the acquisition of ''Boston Communication Group Inc'', a Nasdaq-listed company based out of the US for an approx consideration of USD 65 million.

While margins have come under pressure due to the appreciating US Dollar, we are confident of meeting our guidelines for the year 2007, on accelerating telecom product revenues on the back of a strong deal pipeline.

UNI