Combination of new sales and increased client mining being one of the reasons for the rise
Four Soft, a provider of internet solutions for logistics, has reported after-tax profit of INR107m before exceptional items for the third quarter ended December 31, 2008, as compared to INR36m for the corresponding quarter of 2007.
Four Soft has reported revenues of INR476m for the third quarter ended December 31, 2008, compared to revenues of INR401m for the same period in 2007.
The company has recorded INR1.51 billion in sales and a before-tax profit of INR583m for the first nine months ended December 31, 2008, compared to sales and a profit before tax of INR1.29 billion and INR108m for the same period in 2007.
According to the company, the third quarter has seen a significant jump in profits due to combination of new sales and increased client mining, improved operational efficiency by increased off shoring to India, favorable currency movements and cost reduction.
Rajshekhar Roy, CEO of Four Soft, said: The company has been able to enhance delivery capabilities which has resulted in improved customer satisfaction. We have also been able to increase our product sales in the different geographies despite the slowdown witnessed globally. Adoption of lean management principles in our operations will help in better profitability from the next quarter.