| October 18th, 2006 |
| Geodesic Q2 net profit Rs 233.6 million, up 138% on year |
| Mumbai, India |
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BSE: 503699
NSE: GEOINFO
Reuters: GEIS.BO
Bloomberg: BVH@IN |
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| Geodesic Information Systems Ltd, a leading provider of real-time messaging and collaboration solutions, today said that net profit for the second quarter ended 30th September 2006 was Rs 233.6 million, up 138% over Rs 98.1 million during the same period a year ago. |
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| Result Highlights for the Group Q2 FY 06-07: |
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Consolidated Q2 revenues Rs 405 million against Rs. 351.8 million, up by 15% on quarter. |
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Net profit increased to Rs 217.3 million against Rs. 130.9 million, up by 66% on quarter. |
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Geodesic has added five new clients during the quarter under review and has signed memorandum of agreements (MOA) with three prestigious enterprises. |
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Sales boost on back of Mundu IM applications, its variants and to various segments. |
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Business Highlights for Q2 FY 06-07: |
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Launch of Engage-Spyder in India
The company introduced Engage-Spyder, a customer alignment and relationship management software to an overwhelming response from the financial services segment |
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Launch of Mundu Radio
During the quarter company launched the beta version of Mundu Radio an innovative Internet Radio on the mobile phones. Mundu Radio allows users to access to hundred thousand of radio stations and listen to unlimited music. Commenting on the launch of Mundu Radio Geodesic Managing Director Kiran Kulkarni said, “Mundu Radio heralds a new era of unlimited mobile entertainment for the new generation who are constantly on the move. Mobile devices today are ubiquitous and users have shown a clear preference to have all their content available on their phones. With Mundu Radio user’s choice of music, news and other content explodes without the need to carry separate devices”. The beta version of the product has generated good response and company expects to launch the commercial version of the product soon.
Geodesic will undertake a global marketing campaign in the next two quarters to promote the retail launch of Mundu ICE stack. Marketing expenses in the coming quarters would be substantially higher than the quarter under review and profit margins may vary as compared to the quarter under review. |
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| Key Appointments during this Quarter: |
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Anish Srivastava has joined Geodesic as Senior Vice President Business Development World Wide. A graduate in Computer Science from Carnegie Mellon University, Anish responsibility at Geodesic includes international expansion of Geodesic successful software products in communication and entertainment for the web and the mobile. In his previous assignments Anish has worked as Director of Business Development at Orange; worked with France Telecom R& D Division where he led wireless innovation activities from the US market and brought them to commercial deployment in Europe. |
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About Geodesic |
| Geodesic Information Systems Ltd. is Software Solutions Company. Formed in 1999 Geodesic focused its inventive capabilities across all aspects of communication and collaboration and is now widely recognized for its pioneering universal instant messaging (www.mundu.com) that successfully combines AIM, Google Talk, ICQ, MSN, Mundu and Yahoo with deep content collaboration across the Internet, wireless devices and platforms. The company’s flagship product Mundu has been a huge success worldwide. Geodesic reported consolidated revenues of Rs 1004.1 million for the year 2005-2006.The company is listed on the National Stock Exchange and Bombay Stock Exchange in India. |
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| Financial Results Q2 FY06-07 |
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| For additional information please contact: |
| Media contacts: |
Vineet Tandon
Corporate Communications |
| Mobile: +91-98207-30545 |
| Email: vineet.t@geodesiconline.com |
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