Aztec Soft posts 0.6 million net loss

Mumbai: Aztec Software and Technology Services Ltd has posted a net loss of Rs 0.6 million for the quarter ended 31 March 2002 as compared to a net profit of Rs 60.1 million in the corresponding period last fiscal. The total income has decreased from Rs 248 million in the quarter ended 31 March 2001 to Rs 153.8 million in the quarter ended 31 March 2002.

The company has posted a net profit of Rs 137.8 million for the year ended 31 March 2002 as compared to Rs 201.5 million in FY-01. The total income has decreased from Rs 799.2 million in the year ended 31 March 2001 to Rs 788.9 million in the year ended 31 March 2002.

The net profit for the quarter ended 31 March 2002 is Rs 6.2 million as compared to Rs 54.6 million for the corresponding period last year. The net profit for the year ended 31 March 2002 is at Rs 169.4 million as compared to Rs 185.5 million in FY-01. The board of directors has recommended a dividend of Rs 0.50 per share, Rs 3 par value, for the financial year ended 31 March 2002.

Last year Aztec Software Inc (a wholly owned subsidiary of Aztec Software and Technology Services Ltd, India) formed a joint venture with Embarcadero Technologies Inc, a leading provider of application and database lifecycle management solutions. The joint venture will create software solutions that ease the administration and increase the performance of e-business applications and their underlying databases.

The solutions developed by the joint venture will be targeted at global corporations that rely on critical enterprise and e-business applications to run their businesses. This venture strengthens the existing two-year relationship between the organisations and will accelerate the delivery of advanced database tools and technology to customers in the global Fortune 500.

Aztec had worked on many critical projects with Embarcadero, beginning July 1999. The development team in Bangalore is familiar with the existing Embarcadero products and technologies. Aztec offers expertise in areas of database technologies and database internals that are instrumental to the development of advanced management solutions.