Financial Results For (2003 - 2004)

Un-Audited Financial Results (Provisional) for the Quarter Ended 31st 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