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Geodesic Q1-FY13: Profits Down 40.7% At Rs 35.61 Cr; New Products & Agreements


Geodesic, the digital messaging and content solutions company, has reported consolidated net sales of Rs 170.3 crore for the quarter ended September 30, 2012 (Q1-FY13), down 29.3% from Rs 240.9 crore revenues reported during the same quarter last year. The net profit for the period was Rs 35.6 crore, a sharp decline of 40.74% from Rs 60.1 crore profit during the same quarter last year.

The company says that it has remodeled and optimized its business development and marketing teams during the quarter, in order to focus on vertical segments and move away from the product marketing line. Geodesic notes that this development has helped the company to cross sell and maximize its product and solution sales to existing enterprises and prospective customers.

It also informs that it continues to reduce its exposure to customers whose payment cycles have been affected or stretched due to the global economic crisis, in a bid to make the company financially stronger. Geodesic attributes the dip in sales to this reduced exposure.

Further, Geodesic also mentions it is aligning with ‘stronger partners’ to consolidate business and revenue growth. The company has provisioned a sum of Rs 30.71 crore towards bad and doubtful debts, in face of the bad economic scenario and its prudent policy.

The company also mentioned that it has added 24 new employees during the quarter.

Product Updates:

- Roundtable: Geodesic launched Roundtable – a cloud based multi party video conferencing and real time collaboration solution. Accessible at Roundtable.geodesic.com, Geodesic states that this solution can be used by enterprises (small, medium and large) and retail segment besides individuals who intend to conduct online family reunions. The service is currently available through various plans starting at Rs 300 per session and going up to Rs 3000 per month.

-BBeep: It also launched BBeep – a secure and private messenger for iOS, Android and J2ME platform. The company mentions that the users will receive messages from approved contacts only and the message sender will have the ability to control the spread of messages, videos and images based upon their need.

- Spokn: Spokn, Geodesic’s VoIP service launched a new version of the Windows desktop dialer. The company states that the new dialer now includes an auto-update mechanism, through which the software gets the ability to automatically download and install all future upgrades to the Spokn dialer without any user intervention. Besides this, the dialer also features performance upgrades and improvements to the O-VoIP implementation which ensures that Spokn works in places where VoIP is blocked. During the quarter, Spokn also launched a call collect service, allowing contacts of Spokn subscribers globally to make calls to their respective Spokn subscribers at zero call charges.

- Mundu TV: During the quarter, Mundu TV increased its catalog of entertainment channels by adding Colors, MTV, History TV18, CNN IBN and ETV channels to its existing TV channel catalog. Mundu TV also launched a Windows 8 app and added support for iOS 6 and iPhone 5.

Software and Solution Agreements:

- Agreement with Rosemerta Technologies to build an app to register high security number plates using its GeoAmida platform for Delhi’s transport ministry.

- Agreement with VRL Logistics and Amrut Hatcheries to mobilize their field force. The company mentions that it has entered the Logistics and Poultry industry through this agreement.

- Agreement with CSI Infotech to deploy GeoAmida devices for payment collection and gas distribution for Gujarat Gas Company Limited.

- Agreement with YOU Broadband to enable YOU broadband users subscribe to Mundu TV through the YOU Broadband portal.

- Geodesic signed a contract with a leading multinational bank based in Asia to offer its CRM product and services. The solution comprises of a Customer Alignment system which includes CRM and integrated communication to its users.

- The company also signed contracts with three major financial services companies to provide them with its financial products and solutions.

Download : Press Release | Financials (pdf)

Related:

- Geodesic Q1-FY13: Profits Down 49.4% At Rs 42.42 Crore; Tie-Up With Delhi Metro
- Geodesic Q4-FY12: Profits Down 33.7% At Rs 61.26 Crore; New GeoAmida Deployments
- Geodesic Q3-FY12: Profits Down 24.83% At Rs 65.75 Crore
- How Geodesic Ltd Makes Money; Mundu TV ARPU, Anti-Piracy Plans