Geodesic Limited (BSE: 503699, NSE: GEODESIC), a leading provider of content, communication and collaboration solutions to the enterprise and the retail segments, today announced its results for the first quarter FY2012 ended June 30, 2011.
Consolidated Financial Highlights for the first quarter ended June 30, 2011
- Total income for the first quarter ended June 30, 2011 stands at Rs. 248.51 crore, an increase of 25% as compared to the corresponding quarter last year.
- Net Profit for the first quarter ended June 30, 2011 stands at Rs. 83.86 crore, an increase of 6 % as compared to the corresponding quarter last year.
- EPS for the first quarter ended June 30, 2011 stands at Rs. 9.29 as compared to Rs. 8.56 for the corresponding quarter last year.
- Geodesic incurred an Income Tax expense of Rs. 15.67 crore during the first quarter as Minimum Alternate Tax (MAT) is levied on companies operating out of Special Economic Zones (SEZ) since this fiscal.
Functional Highlights
Geodesic added 30 new employees to strengthen the products management, software engineering, electronic computing and marketing teams.
Operational Highlights
Product Launches
- Geodesic launched a unique business continuity solution for the enterprise to manage contacts and information.
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Geodesic’s Spokn expanded its product portfolio by launching two innovative click-to-call services:
- Spokn users can now use the Spokn website to establish an international call on a hand phone or on a land line.
- Spokn users can simply SMS the recipient’s phone number from their registered phone number to establish an international call thereby eliminating the need to be connected to the Internet to make international calls at almost 1/10th the cost of a regular call.
- Mundu TV was launched across a range of Android Tablets including Samsung Galaxy Tab, Motorola Xoom, HCL Tablet, amongst others.
- Geodesic made its foray into the online gaming space with Carrom MP, a multiplayer board game for the iPad. The game can be downloaded from the Apple Appstore for 99 cents. Carrom MP was ranked #1 on the Apple Appstore charts in India, Pakistan and Saudi Arabia.
Rewards & Recognition
- Geodesic was ranked amongst the top 100 companies as part of Dataquest’s survey -- DQ Top 200 Fastest Growing IT companies.
- Carrom MP was ranked the # 1 application on the Apple App store in India, Pakistan & Saudi Arabia.
- Mundu TV was showcased as Top Ovi Store Free to Download application by Nokia at CommunicAsia Singapore 2011.
- Mundu TV consistently ranked the #1 Application on Ovi Store's Free to Download Category.
- Mundu TV was the most recommended application on the Nokia Ovi store.
- Mundu TV has more than 4.15 million users across all platforms and has clocked 35 million minutes of viewing in seven months since its launch.
Enterprise
Geodesic received orders from the following companies to deploy GeoAmdia and associated solutions across multiple segments:
- ITC Ltd, one of the world’s largest multi-business conglomerates, to automate their rural fuel-station operations.
- Mobicash, an African enterprise working in the space of micro-payment to execute secure transactions at merchant locations. Mobicash will implement GeoAmida across four African countries
- Bartronics Ltd to roll out Financial Inclusion services for two large Public sector banks across thousands of villages. GeoAmida has been deployed at ten other banks besides the above two.
- SREI-Sahaj e-villages, a subsidiary of SREI Infrastructure Finance Ltd., for their financial inclusion services.
Geodesic signed software product and solution agreements with the following:
- Oberthur, second largest smart card (SIM) manufacturer in the world, to pre-bundle instant messaging solutions on SIM cards, globally.
- Micromax Limited to pre-bundle Mundu TV on several of their Android phones.
- TCL Mobile Communication Co. Ltd, one of the top 10 handset manufacturers in the world, to pre-bundle Mundu Radio on 10 million mobile devices.
- Smarsh Inc., a US leader in financial sector, to provide instant messaging solutions on mobile devices including archiving and compliance solutions through its subsidiary in Uruguay.
- ShareKhan, India’s leading Stock-Broking House, Axis Mutual Fund and NDTV Profit, a 24-hour business channel, for financial products and solutions.
- One of the top three banks in Malaysia to provide unique Customer Alignment System including CRM and integrated communication to its users.
- Times Internet Ltd to broadcast live and recorded IPL season IV matches using Mundu TV technology on the mobile and desktop platforms across the Americas, Canada, South East Asia, Middle East and Australia.
- BAMM TV, an international music channel, to extend the list of channels offered by Mundu TV.
- RadioBeta, content aggregator, to expand Mundu Radio’s content catalogue into many more regions in the world, especially in LATAM.
- Alliancepartner, International Business Promoters LLC., to market and promote Geodesic’s investment and wealth management solutions and other financial services in the Sultanate of Oman and other GCC countries.
About Geodesic Limited
Geodesic Limited is an innovator in software products focused on Information, Communication and Entertainment (ICE) for mobile phones and desktop computers. Headquartered in Mumbai, India, Geodesic's Mundu suite of products includes solutions for Instant Messaging, Mobile Voice-over-IP and Internet Radio. Since its inception in 1999, the Mundu Interoperable Instant Messenger has been used by several hundred thousand users on the mobile phone and over 5 million users on the desktop. The company is listed on the National Stock Exchange and Bombay Stock Exchange in India. Geodesic has offices in Mumbai, Bangalore, Chennai and Hyderabad in India, USA, Uruguay, UK, UAE, Hong Kong and Mauritius.
