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Updated: Q409 Results: Geodesic Reports Rs. 662.7M Profit; Mundu IM For Android; ESOPS

Update: Geodesic Ltd has also informed the BSE that their Board of Directors has considered grant of 5,00,000 options to their employees, as well as employees of their  subsidiary companies. 

Original Story: Mobile applications company Geodesic Ltd has reported a net profit of Rs. 662.7 million for the quarter ending March 31st 2009, 21% down from the Rs. 837 million reported in Q3, but up 32% compared to Q408. Profits were lower despite net sales being flat (down 1%) quarter on quarter at Rs. 1,813.6 million. Net sales were a significant 75% higher than in Q408. The company recorded an earnings per share of Rs. 7.19.

These are consolidated results, which includes the companys interests in Chandamama and Picopeta. On a standalone basis, Geodesic reported revenues of Rs. 406.96 million, on net sales of Rs. 1391.25 million, with an EPS of Rs. 4.41.

Geodesic has bought back and cancelled outstanding FCCBs (Foreign Currency Convertible Bonds) due 2013 with nominal value $8.5 million as on 31st March, 2009.

The company has not offered any updates on its acquisition in Uruguay, the status of deployment for the Simputer and revenues of Chandamama India. We’ll update when we have more.

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Financials: Consolidated | Standalone 

Customer Additions

During the quarter, Geodesic claims to have added 200, 000 users for Mundu products. The company acquired new customers in Banking and Financial services, System Integrators, Portals & Publishers and Telecom Carriers including:

Bright Star Corporation, Miami, USA for launching Mundu IM on the mobile phones

— Mundu IM for Rural Business Initiative: Atom Technologies, Venture Infotech and Fullerton India Credit Limited Company for implementing a biometric enabled mobile terminal for their rural business initiative.

— Signed an MOU with Business India, leading publishing House in India and Ahli United Bank BSC, Bahrain for incorporating its suite of products including CMS and the Mundu suite.

— Banking and Financial Services: including Antique Stock Broking Limited, Alchemy Shares and Stock Brokers Private Limited and Mirae Asset Global Investments (Hong Kong).

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New Markets
Geodesic signed a deal with Zoznam, a leading social networking portal in Slovakia to launch IM and Sweden Ghana Medical centre for development of solution for Hospital Management.
Product Updates

— Mundu IM for Android: Geodesic launched IM application on Android mobile phone as a personal instant messaging tool. This new product now makes mundu messenger a part of the Android Market, which hosts many popular and unique applications from developers around the world.

— Mundu SMS: Geodesic launched an IP based two way SMS service. The SMS product has crossed 100,000 users in 50 days, the company claims.

Related:

— Geodesic Acquired VoIP Company PhoneStack
— Q309: Simputer Gets A New Lease Of Life? Geodesic Acquires Uruguay Software Co; Chandamama

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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