Megasoft Ltd, a telecom technology products company, has reported lower revenues of Rs 24.30 crore in the third quarter ended September 30, 2013, as it lost a major customer. In the comparable quarter last year, it registered a turnover of Rs 27 crore.
“We have closed two large deals during this quarter, expanding our presence in the infrastructure space. We lost a major customer, which has the potential to affect future revenues significantly in the coming quarters,” G.V. Kumar, Managing Director and Chief Executive Officer of Megasoft, said in a statement here.
It made a marginal profit of Rs 26 lakh against a loss of Rs 3.18 crore in the same quarter last year. For the nine-month period, it registered revenues of Rs 76.66 crore, lower than Rs 86 crore in the same period previous year.