(1888PressRelease)
July 10, 2009 - Saksoft (Saksoft Limited (NSE: SAKSOFT.NS, BSE: 590051.BO) and its subsidiaries), today declared its annual results for the fiscal 2008 - 09. The group turnover for the current financial year stood at Rs.120.48 crore as compared to Rs.120.10 crore the previous year. The net profit grew by 333% from Rs. 2.22 crore in 2007 – 08 to Rs. 9.63 crore in 2008 – 09 fiscal. The net profit for the Quarter ending March 2009 stood at Rs. 3 crore, a growth of 81% as compared to the same period last fiscal.
Commenting on the performance, Mr. Aditya Krishna, Founder & Managing Director, Saksoft Group, said, “We are quite satisfied with the performance of the group. Despite the slowdown in the markets across US and Europe, we have managed to sustain our revenues. The significant part of the results for this year is that we have managed to grow our profits despite the challenges in the market. We were very conscious about our spending and have managed to optimize our cost through several measures and this in turn has paid us rich dividends.”
“With markets showing signs of stabilizing and with effective measures being taken by the Governments in several countries, our outlook for the coming year is very positive and we hope to better our financial performance for the coming year”, added Mr. Krishna.
The Earnings Per Share (EPS) of the group as on March 31, 09 stood at Rs.9.50.
About Saksoft: Saksoft (NSE: SAKSOFT.NS, BSE: 590051.BO) is global software services company with focus on banking and financial services segment. Saksoft specializes in providing technology solutions for business problems based on three key competencies: Information Management, Web development and Business Application testing. An Information Management specialist Saksoft’s fully owned subsidiary Acuma is rated among the top 3 Information Management companies in UK. The services of Saksoft include Business Intelligence Applications, Data Warehousing, Data Integration, Application Migration and Solution frameworks that address specific business requirements to its customers. They help businesses identify their pain points and provide solutions that are a combination of domain knowledge and expertise, which helps them improve processes, maximize profitability and manage risk.
Saksoft has a CMMI maturity level 5 accredited quality systems. Established in 2000, it is headquartered in Chennai and spread over eight locations worldwide with operations in United States of America, United Kingdom, Singapore and Germany
###
