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Geodesic Net Profit Falls 25.4% YoY, Revenues Down 17.2%

Revenues for the NSE and BSE listed digital applications and services firm Geodesic Ltd have taken a beating in the quarter ended December 2009 with a 17.2 percent year on year fall to Rs. 1518.5 million, and a sequential decrease of 1.7 percent. The company posted a net profit of Rs. 625.1 million lower 25.4 percent from December 2008. Earnings per share of the company is also 28.7 percent down year on year to Rs. 6.78. The company's board of directors declared an interim dividend on January 29, 2010. Last quarter, in answer to a question posed by MediaNama on the company's planned acquisition of a social networking company, Kiran Kulkarni, MD, Geodesic, said he expected it to be completed by end of December but there is no news of the acquisition yet. Details: Standalone Financials | Consolidated Financials | Release Products & Deployments Geodesic added 215,000 new users for Mundu products, higher than the previous quarter's 195,000. Its VoIP service Spokn registered an average of 180,000 call minutes per day and Geodesic has seen a doubling in the average number of text messages (SMS) sent per day using Mundu SMS to 100,000 sequentially. It signed a deal with telco America Movil to offer Mundu SMS to its 180 million subscribers in 18 countries. Mundu Radio - Geodesic signed an MoU with Bangladeshi firm B2M Technologies to deliver the product to Bangladesh's top operator Grameenphone. It also signed an agreement with Tata Teleservices Limited to provide Mundu Radio to Tata…

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