Geometric’s consolidated net profit fell 13.1 per cent to Rs 11.1 crore in fourth-quarter ended March 31, following a fall in revenues from a large customer.
The mid-size IT firm had posted a net profit of Rs 12.77 crore for the same period of the previous financial year.
“This year, we faced the challenge in that one of our large customers had to contend with difficult market conditions. This contributed to a setback, which I believe is temporary. We are on the right track with the right strategy to support the building of a sustainable scalable enterprise,” said Manu Parpia, Managing Director and Chief Executive Officer.
Its consolidated revenues during the quarter under review rose to Rs 247.13 crore, compared with Rs 224.93 crore in the same period a year ago.
The Pune-based company’s net profit for the full year rose 16.2 per cent to Rs 68.75 crore , while its revenues rose 26.3 per cent to Rs 1,020.36 crore. The company had a total employee strength of about 4,600 as of March 31. It added three new customers during the quarter.