Megasoft Limited (BSE CODE NO: 532408), a transnational Intellectual Property-driven, product-based technology company, has announced its audited financial results for the year ended December 31, 2006. The Company posted a Rs 329.7 million profit after tax for the year ended December 31, 2006, compared to Rs 201.1 Mn in the previous. Income from operations for the year ended 2006 was 462.4 million.
“In 2006, the Company generated record revenues and record earnings as we continue to experience strong performance on our operating fronts,” said Managing Director & CEO, GV Kumar. “The financial results are a testament to our business model, and are reflective of our ability to leverage our product innovation and customer focus strategy in the telecom segment to take advantage of where the opportunities lie. We will continue to focus on the US market apart from our forays into other newer markets. In 2007, we expect to continue our organic growth coupled with inorganic growth through M&A in telecom segment focused in North American and European geographies. Telecom would continue to be the driving force for Megasoft” added Mr. Kumar.
About Megasoft Limited
Established in 1994, Megasoft is a transnational Intellectual Property-driven, product-based technology company that focuses on its expertise in the growing Telecom sector. The company has initiated a strategic transition – from a midsized IT services company to a leading domain-led Intellectual Property (IP)-driven technology company. Megasoft is a SEI CMM Level 4 company that operates out of USA, UK, Singapore, Malaysia and Germany, and in Hyderabad and Chennai in India. Megasoft is publicly listed in the Bombay Stock Exchange. Additional information about Megasoft is available at www.megasoft.com.