BUSINESS

Megasoft operating profit up 86 per cent

CHENNAI: Megasoft has registered a turnover of Rs. 84.90 crores for the 12 months ended December 31, 2004 against Rs. 63.60 crores in the corresponding period in the previous year. The operating profit, before interest, depreciation and tax, has risen by 86 per cent to Rs. 12.60 crores. According to a release, in line with the company's strategic transition from a mid-sized IT services company to a leading IP led technology company, Megasoft reviewed its inventories and overdue debtors and has taken a one time write off of Rs. 12.80 crores during the year, resulting in a net loss of Rs. 6.80 crores.

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