Geometric declares revenues of Rs. 71 crore for Dec Qtr

PUNE: Geometric Ltd ( BSE: 532312, NSE: GEOMETRIC) reported Rs 71 crore revenue and Rs 7.4 crore profit for the quarter ended December 2011 for the listed company. The consolidated revenues rose 14.5% to Rs 2,19.03 crore a rise of from the previous quarter revenues of Rs 1,91.23 crore and 34.2% from Rs 163.20 crore in Q3FY11, a company statement said.

Manu Parpia, Managing Director & CEO said, "The third quarter for IT companies is traditionally a flat quarter. This quarter we saw the benefits of our efforts towards improving our operations, and better utilization rates. The forex fluctuation has also had a positive impact on our operations, and we see continued volatility in the forex rates going into Q4.

Despite the crisis in Europe and macro-economic conditions, or rather because of it, I see customers increasingly turning towards their offshoring partners for bringing in efficiencies." The company, including its subsidiaries, had over 4400 employees at the end of the quarter.

The company added nine new customers during Q3. It appointment of Arvind Kakar as the Chief Financial Officer of Geometric, launched a new CAM package CAMWorksXpress to address the needs of the home machinist and the new users of 3D CAM software.