Tuesday, Apr 30, 2002
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SSI, a global provider of consulting, software services and training solutions, is hopeful of a recovery in software services business based on a significant improvement in its performance in the third quarter of its financial year as compared to the previous three months. According to Kalpathi S. Suresh, chairman and CEO, training business continued to be challenging while the company was witnessing the first signs of a recovery in software services business. Addressing presspersons here today Mr. Suresh said education and training business returned an operating margin of only 2.5 per cent in the third quarter as compared to 12.2 per cent in Q2. Total operating revenue was Rs. 56.95 crores in the third quarter ended March 31, 2002 as compared to Rs. 66.08 crores in Q2. However the net profit for Q3 was better at Rs. 4.06 crores against Rs. 1.74 crores in Q2. There was, of course, a rise in other income to Rs. 9.04 crores in Q3 from Rs. 2.38 crores in Q2. Other income in the just concluded quarter included Rs. 2.26 crores from forex fluctuations, Rs. 5.32 crores from mutual funds and 1.24 crores from interest.
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