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Q4-09: Tanla Solutions Net Profits Fall 34% To Rs. 291M; ZED JV Approved

VAS firm Tanla Solutions has registered a 34% drop in net profits to Rs. 291 million for the quarter ended March 31, 2009 from the previous quarter. It has fallen by 42% from Rs 500 million clocked on a year on year basis. ZED JV Gets FIPB Approval The company's Indian centre, based in Hyderabad, had recently received a go ahead from FIPB for setting up a joint venture that will focus on Mobile Internet space, Mobile Entertainment, Mobile Advertising, and Interactive TV. Details: Financials Financials Gross revenues dropped by 15% over the previous quarter to Rs 1435 million, and were slightly lower (at 3%) than what Tanla clocked in the same quarter last fiscal. Overseas revenues, which form the bulk of the revenues, also showed a similar drop of 3% from Q408. It registered a fall of 14% to Rs 1,386 million from Rs 1,606 million last quarter. Domestic revenues have dropped by 37% for the quarter to Rs 39 million from Rs 61 million recorded in Q3. What is amazing is that compared to the same quarter last fiscal, when Tanla's revenues from sales in the country was just Rs 2 million, revenues have shot up a dizzying 1502%, albeit on a low base. According to Business Line, the company should have taken two to three years for India to have contributed substantially to revenues. In comparison with FY08, EPS increased by 20% to Rs 20. FY 2009 has been a good year for the company with net profit…

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