Geometric Software Solutions Company Ltd has posted a 33.90 per cent rise in net profit at Rs 4.11 crore (Rs 41.1 million) on a consolidated basis, during the first quarter ended June 30, 2003, compared to Rs 3.07 crore (Rs 30.7 million) registered during the same period of previous fiscal.
The software firm's chief operating officer Nitin Deshpande plans to resign shortly to "pursue other interests", while it is also planning an organisational restructuring, Geometric Software managing director Manu Parpia said in a release on Wednesday.
The company's total income rose to Rs 24.39 crore (Rs 243.9 million) during the quarter under review, as against Rs 19.96 crore (Rs 199.6 million) posted during the same period a year ago, he said.
On a standalone basis, Geometric Software posted a net profit of Rs 2.83 crore (Rs 28.3 million) in the reporting quarter, compared to Rs 2.44 crore (Rs 24.4 million) posted in first quarter of FY-03, he added.
Geometric Software's total income rose slightly to post Rs 15.79 crore (Rs 157.9 million) from Rs 15.36 crore (Rs 153.6 million) recorded during the same period of the previous fiscal, the managing director said.