Financial Results For (2003 - 2004)

Un-Audited Financial Results for the Quarter Ended 30^th JUNE, 2003

				(Rs. in Lakhs)
	Particulars	Quarter Ended	Quarter Ended	Year Ended
		30.06.2003 Un-Audited	30.06.2002 Un-Audited	31.03.2003 Audited
	Net Sales	36.34	63.00	662.05
	Other Income	1.98	1.03	13.85
	Increase/(Decrease in Stock)	5.28	39.67	(14.63)
	Total Revenue	43.60	103.70	661.27
	(a) Material Consumption	24.31	36.58	191.20
	(b) Staff Cost	23.16	39.67	99.17
	(c) Manufacturing & other Expenses	8.71	11.08	109.16
	(d) Administrative & other Expenses	11.36	14.23	97.73
	Total Expenditure	67.54	101.56	497.26
	Profit Before Interest, Depn & Taxes	(23.94)	2.14	164.01
	Financial Expenses	12.06	14.45	55.87
	Misc. Expenses Written of	-	-	22.52
	Depreciation	-	-	67.58
	Profit/(Loss) Before Tax	(36.00)	(12.31)	18.04
	Provision for Deferred Tax Liability	-	-	1.36
	Profit/(Loss) After Tax	(36.00)	(12.31)	16.68
	Paid-up Equity Share Capital	515.28	515.28	515.28
	Reserves (Share Premium)	711.54	711.54	711.54
	Accumulated Losses	(210.93)	(203.92)	(174.93)
	EPS (Rs) not Annualised	(0.70)	(0.24)	0.32
	Aggregate of Non-Promoter Shareholding Number of Shares	33,91,899	33,99,899	33,91,899
	Percentage of Shareholding	65.81%	65.97%	65.81%

Notes:
Sales inclusive of Excise Duty of Rs.2,25,510/-and correspondingly forms part of the Manufacturing & Other Expenses.
Previous period figures have been regrouped/recast to confirm to the current period presentation.
Research & Development expenditure amounting to Rs 2,58,19,425 which is to be amortised as per accounting standard 26 - "Intangible Assets" will be provided at the year-end.
Depreciation and Deferred Revenue Expenditure will be provided at the year-end.
During the Quarter 21 Complaints were received form investors and same were resolved to the satisfaction of investors.
The above results were considered and taken on record at the Board Meeting held on 29th July, 2003.

For Avantel Softech Limited
By order of the Board

Place: Hyderabad
Date : 29-06-2003

A.Venkateswara Rao
Chairman