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Megasoft has reported revenues of Rs 20.61 crore for the quarter ended September 30, 2014, as against Rs 24.34 crore in the same quarter previous year. The firm, however, could report a marginally higher net profit of Rs 36 lakh in the quarter as against Rs 26 lakh in the comparable quarter last year.
The company could reduce expenditure by Rs 5 crore at Rs 17.58 crore. “Thanks to good new deal flow from South American markets, the company could stay operationally cash and profit positive despite decline in revenues from its key market of the US,” Megasoft Managing Director and Chief Executive Officer G V Kumar, informed the Bombay Stock Exchange.
The board of directors, who met last week to consider the results, decided to change the financial year of the company from January-December to April-March. Accordingly, the current financial year of the company would be extended up to March 31, 2015, covering a period of 15 months.
The shares of firm closed at Rs 8.19 on Bombay Stock Exchange (BSE) as against the previous close of Rs 7.75 on Monday.
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