Geometric revenues up

Geometric Software Solutions’ consolidated revenue for the quarter ended June 30, 2005, increased by 51 percent to Rs 556.91 million as compared to Rs 369.87 million for the corresponding quarter last year. On a sequential quarter-on-quarter basis, consolidated revenues grew by 6 percent in the current quarter from Rs 525.17 million in the preceding quarter.

Consolidated net profit for the quarter increased by 53 percent to Rs 77.94 million as compared to Rs 51.03 million for the corresponding quarter of the last year. However, the net profit for the current quarter declined by 4 percent from Rs 80.91 million in the preceding quarter.

Says Manu Parpia, the company’s Managing Director, “The results for the quarter are not satisfactory. But we remain confident of our strategy and direction, and believe the results represents only a temporary setback.”

During the quarter, Geometric launched GeomCaliper and signed up distributors for the same.

The company also added two new customers for Nestlib and signed up with an OEM for a new FR product. During this quarter, the sales of Geometric’s eDrawings for CATIA V5 gained momentum. It received the first order for the eDrawings Standard Template Library. At the same time, the company set up an AD-PDM Proof of Concept centre at a major auto manufacturer’s facility. The period also saw its TekSoft subsidiary register steady growth in revenues and profitability. The PLM Institute completed two batches covering courses in Teamcentre Enterprise and CATIA CAA.

During the quarter, the company consolidated its relationship with its US partner for providing tool design services to the automotive sector. It also won a large contract from an American company to provide various modelling services. The company was selected as an ‘Engineering Services Provider’ by Volvo 3P and as a ‘Preferred PLM Services Provider’ by Ford Motor.