Vakrangee Softwares Q 2 net profit jumps 165% to Rs 12.74 Crore

Gross turnover rises 86% to Rs 56.26 Cr.

MUMBAI, October 15 2007: Vakrangee Softwares Ltd. (VSL), the leading integrated document management and printing management solutions provider that is spearheading the Government’s e-Governance drive, registered a jump of 165% in its net profit to Rs 12.74 Crore for the quarter ended 30th Sept., 2007 as compared to Rs 30.25 Crore Q2 FY07. The gross turnover of Vakrangee Softwares Ltd. during Q2 FY08 shot up by 84% to Rs 56.26 Crore as compared to Rs 30.25 Crore in the corresponding period for the last fiscal. The Board of Directors today announced the unaudited results for the quarter ended 30 Sept., 2007.

The operating margin of Vakrangee Softwares Ltd. jumped to 46.34% in Q2 FY08, while the net profit margin rose to 22.64% as compared to the corresponding figures for the same quarter in the previous fiscal. The Basic Earnings Per Share for Q2 FY08 shot up to Rs. 6.65 from Rs 2.51 for the same period during the last fiscal. The Diluted Earnings Per Share for Q2 FY08 shot up to Rs. 5.95 from Rs 2.25 in Q2 FY07. During the first quarter of FY08, Vakrangee Softwares Ltd. registered a jump of 121% in its profit before depreciation and tax to Rs 14.06 Crore for the quarter ended 30 June, 2007, as compared to Rs 6.36 Crore in the Q1 FY07.

Mr. Dinesh Nandwana, Chairman and Managing Director, Vakrangee Softwares Ltd., said, "The growth in the first Six Months of FY 08 can be attributed to the realisations from several big ticket e-Governance and Document Management projects that we have bagged recently. We take pride in the fact that we are one of the few leading e-Governance service providers in India equipped with cutting edge infrastructure, highly experienced professionals, strong investment and technological breakthrough on a continual basis in order to maintain time-bound completion of mission critical and socially relevant projects."

The stock closed the day at Rs.191.70, up by Rs.9.10 or 4.98%. The total traded quantity was 142635 compared to 2 week average of 153227.

The stock hit an intraday high of Rs.191.70 and low of Rs.182.60.

Source : Equity Bulls

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