Wednesday, April 20 2005 20:28 Hrs (IST) - World Time -

Chennai: Helios & Matheson today (Apr 20, 2005) reported a rise of 133 per cent in its net profit. The revenue of the IT services organisation is expected to cross Rs 200 crore mark in fiscal 2006.

The company's income for the year ended March 31, 2005 was Rs 122.12 crore, as compared to Rs 75.54 crore for the previous year, an increase of 61.7 per cent. Net profit after tax for the year ended March 31, 2005 was Rs 18.57 crore vis-a-vis Rs 7.96 crore for FY 04, a YoY growth of 133 per cent, Helios & Matheson statement said. Earnings per share (annualised) increased to Rs 18.56 (post the 1:1 bonus issue of shares) as compared to Rs 15.91(annualised) for the previous year. The company's cash and cash equivalents as on March 31, 2005 was Rs 31.23 crore, the company release said.

Income was Rs 36.26 crore for the fourth quarter ended March 31, 2005, an increase of 55.4 per cent over comparable income for the corresponding quarter in the previous year. Operating profit for the quarter increased to Rs 10. 26 crore from Rs 5.44 crore, for the corresponding quarter in the previous year, an increase of 88.7 per cent, the release added. "We have seen a year of robust growth. On an expanded capital base (post 1:1 bonus), we have in fact increased our EPS to Rs 18.56 from Rs 15. 91 in FY 04 and this stands testimony to our relentless focus on the bottomline," said V Ramachandiran, chairman , Helios& Matheson.

G K Muralikrishana, managing director, Helios & Matheson said, "Our business strategy focuses on strong organic growth complemented by judicious acquisitions. Our revenue is expected to cross Rs 200 crore in fiscal 2006. We believe we are well on our way to achieve the target of $ 100 million revenue in the next 24 months."

Helios& Matheson Information Technology Ltd is an IT services organisation with its corporate headquarters in Chennai and subsidiaries in USA, Singapore and Bangalore.