Megasoft registers Rs 2,972 mn revenues in 2007

Hyderabad, Feb 22 (UNI) Megasoft Ltd announced that the company has earned Rs 2,972 mn revenues and Rs 560 mn PAT for the year ended Decemeber 31, 2007, an increase of 67 per cent and 72 per cent, respectively.

According to a release here, Megasoft's earnings per share increased to Rs 12.65 as compared to Rs 9.31 of the previous year, registering an increase of 38 per cent. Share on telecom revenues increased from 39 per cent of total income in the previous year to 49 per cent in the current year.

The company, which follows the January-December calendar, earned revenues of Rs 952 mn and net income of Rs 182 mn during the fourth quarter, as compared to Rs 618 mn and net income of Rs 77 mn for the same quarter of the previous year, registering a revenue growth of 54 per cent and income growth of 136 per cent.

When compared to the last quarter, revenues in Q4 was up by 24 per cent and net income was up by 12 per cent.

''The results reinforce the strength of our business model. 2007 has been a year of tremendous changes and new business growth for Megasoft in spite of uncertain and volatile market conditions. The acquisition of BCGI has added high quality long term revenues to the company as well as a strong management team for its telecom division. We expect an accelerated growth in telecom products area as we intend to expand into new product lines and geographies,'' Megasoft MD and CEO G V Kumar said.

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