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Megasoft Ltd's net profit declined 56 per cent at Rs 2.8 crore in the first quarter ended March 31, 2012 compared with Rs 6.42 core in the year-ago period.
The total revenue decreased to Rs 30 crore (Rs 40 crore).
The company had got no revenue from its largest client during the quarter and period was ‘tough' for the operations of the company, Mr G.V. Kumar, Managing Director and Chief Executive Officer, Megasoft said in a release.
The decline in revenue was due to loss of one of the largest clients in 2011 which had its full impact during the quarter under review.
The earnings per share stood at Rs 0.64 (Rs 1.45).
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