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Geometric Posts Stand-Alone Loss In Q4

4/23/2012 6:42 AM ET

Geometric Ltd. reported fourth-quarter stand-alone net loss of Rs.3.98 crore or Rs.0.63 per share, compared with a net profit of Rs.6.09 crore or Re.0.97 per share for the quarter ended March 31, 2011.

Quarterly net income from operations rose by 13 percent to Rs.72.89 crore from the Rs.64.28 crore in the year-ago quarter. Other income for the quarter was negative at Rs.3.86 crore, compared with a positive income of Rs.5.20 crore in the corresponding quarter of the preceding year.

For the full year, its stand-alone net profit was Rs.41.20 crore, compared with Rs.22.31 crore last year, an increase of 85 percent. Total income, including other income, totaled Rs.305.53 crore, up by 17 percent from the Rs.261.47 crore in 2011.

Consolidated Results

On a consolidated basis, its net profit for the fourth-quarter fell by 28 percent to Rs.12.77 crore from the Rs.17.84 crore in the year-ago quarter. Total income, including other income, amounted to Rs.222.18 crore, higher by 25 percent than the Rs.178.43 crore in Q4FY11.

The company said the results for the quarter under review impacted due to an additional provision for doubtful debts for prior items and an unforeseen for tax liability for its American subsidiary, as declared earlier this month.

For the twelve-month period, the company posted consolidated net profit of Rs.59.16 crore, compared with Rs.57.52 crore for the comparable period a year ago, reflecting a three percent growth. Total income, including other operating income, totaled Rs.824.18 crore, up by 28 percent from the Rs.644.20 crore in 2011.

The company's board recommended a final dividend of 80 percent or Rs.1.60 per equity share of Re.2 each for the fiscal year 2012.

Managing Director and CEO Manu Parpia said, "We have seen a healthy top-line growth this year, in fact higher than our guidance. This year we came under the full tax regime, despite which, we have improved our EPS for the year. We have seen volume growth from emerging verticals, and I see this area as a significant opportunity we can tap into over the coming years. We also continue to see healthy demand for our offerings."

At the BSE, Geometric shares are currently trading at Rs.73.85, down 3.15 percent from the previous close.

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by RTT Staff Writer

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