Financial Results For (2003 - 2004)

Un-Audited Financial Results (Provisional) for the Quarter Ended 31^st MARCH, 2004

				(Rs. in Lakhs)
	Particulars	Quarter Ended		Year Ended
		31.03.2004 Un-Audited	31.03.2003 Un-Audited	31.03.2004 Un-Audited	31.03.2003 Audited
	Net Sales	278.55	361.26	857.43	662.05
	Other Income	3.00	7.12	8.10	13.85
	Total Income	281.55	368.38	865.53	675.90
	(a) Decrease in Stock	6.29	72.91	25.17	14.63
	(b) Material Consumption	69.90	88.78	290.05	191.20
	(c) Manufacturing & other Expenses	25.48	65.32	122.52	109.20
	(d) Staff Cost	34.36	8.39	103.92	99.17
	(e) Administrative & other Expenses	43.80	48.69	106.56	97.73
	Total Expenses	179.83	284.09	648.22	511.89
	Profit Before Interest, Depn & Taxes	101.72	84.29	217.31	164.01
	Financial Expenses	15.22	15.92	62.29	55.88
	Misc. Expenses Written of	5.63	22.52	22.52	22.52
	Depreciation	14.80	67.56	51.38	67.58
	Profit/(Loss) Before Tax and Extra-ordinary items	66.07	(21.71)	81.12	18.03
	Loss on Discarded Assets	(22.42)	-	(22.42)	-
	Loss on Revaluation of Assets	(118.24)	-	(118.24)	-
	Add/(Less): Deferred Tax Liability	50.32	-	50.32	(1.35)
	Add: Excess Provision for Tax	15.07	-	15.07	-
	Profit/(Loss) After Tax	(9.20)	(21.71)	5.85	16.68
	Paid-up Equity Share Capital	515.28	515.28	515.28	515.28
	Reserves (Excluding Revaluation Reserve)	-	-	378.04	711.54
	EPS (Rs) not Annualised
	Aggregate of Non-Promoter Shareholding Number of Shares	-	-	34,32,249	33,91,899
	Percentage of Shareholding	-	-	66.59%	65.81%

Notes:
Net Sales is inclusive of Excise Duty of Rs.52,49,884/-
During the quarter all fixed assets were revalued on 31.03.04. the profit on revaluation of assets amounting to Rs.221.51 Lakhs has been transfered to Revaluation Reserve account and the loss on revaluation of assets amounting to Rs.118.24 lakhs has been debited to Profit and Loss Account as per the Accounting Standard 10 "Accounting for Fixed Assets".
Based on the experience during the last quarter, the assessment of spares required during warranty period, the provision for warranty expenses was reduced by Rs.20.60 lakhs.
Previous period figures have been regrouped/recast to confirm to the current period presentation.
During the Quarter 18 Complaints were received form investors and same were resolved to the satisfaction of investors.
Though, during this quarter there was a Revenue of Rs.6.75 lakhs from Software Development, the same was not categorised as a separate segment since the revenue was below the limit specified in AS-17.
The above results were considered and taken on record at the Board Meeting held on 29th April, 2004.

For Avantel Softech Limited
By order of the Board

Place: Hyderabad
Date : 29-04-2004

A.Venkateswara Rao
Chairman