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Q1-09 Results: Geodesic Profit Up 18 Pc QoQ At $13.61 Million; Mundu IM To Be Bundled With Medion Handset In Europe

BSE listed Geodesic Information Systems has reported revenues of $30.19 million (around Rs. 129.65 crores) for the quarter ended June 30th 2008, up 22 percent quarter on quarter, and 112 percent year-on-year. Note that Geodesic has a majority stake in children’s magazine Chandamama, and provides mobile and desktop solutions for instant messaging, Internet Radio and mobile VoIP.

The company’s net profit increased to $13.61 million (Rs. 58.45 Crores), up 18 percent from the last quarter, and 103 percent year-on-year. The company believes that the growth is sustainable, since their platform can be customised, and deals signed now will bear fruit in the coming year. Geodesic is also looking to open an office in Spain.

View the results – Consolidated | Standalone | Release

Standalone results cover only Geodesic Information Systems, while consolidated results include earnings from Chandamama, PicoPeta Simputers, Engage Solutions Ltd, Geodesic Information Systems AV, Geodesic Information Systems PTE ltd, Geodesic Information Systems INC, Geodesic Techology Solutions Ltd, Geodesic Holdings (Mauritius); It’s not possible to glean earnings from Chandamama and PicoPeta separately from the consolidated results (we were trying). But some developments during the quarter:

Chandamama: Geodesic launched multi-lingual sites for Chandamama (related story); the 60th Chandamama Anniversary Book has gone into its second print cycle.
Mundu: Geodesic signed five new enterprise customers across USA, Europe and Asia. They bundled Mundu IM and Internet Radio with devices – most recently, German co MEDION AG licensed Mundu IM for an upcoming mobile device which will be sold in Europe – numbers range from between 500,000 – 1,000,000 units that will get shipped this year. Mundu IM has a subscriber base of 26.7 million in Europe. More on the deal here.
VoIP Phone: The company also launched a VoIP phone last quarter. Details here.

The company added 278,000 new retail customers during the quarter.

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Related: Chandamama Launches Hindi, Tamil And Telugu Portals; Archives Inaccessible

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