Web domain and hosting service provider Net 4 India has posted a Profit After Tax of Rs 9.55 crore for the quarter ending March 30, 2012, a 62.14% increase compared to a profit of Rs 5.89 crore during the same quarter, last fiscal. Profit Before Tax increased to Rs 14.07 crore for the quarter, up by 57.88% from Rs 8.91 crore reported during the same quarter, last year. The company posted total income of Rs 145.25 crore during the quarter, a 58.47% increase from its Q3FY11’s revenues of Rs 91.66 crore. Net 4′s Basic and Diluted EPS decreased to Rs 4.76 from Rs 4.77 per share quarter on quarter, on a consolidated basis.
For the fiscal 2012, the Profit After Tax stood at Rs 34.14 crores, up by 61.57% from Rs 21.13 crore profit during the last fiscal, the Profit Before Tax stood at Rs 50.50 crore, up by 57.96% from Rs 31.97 crores during the last fiscal and the EPS stood at Rs 17.02, a 57.02% increase from Rs 10.84 in the last fiscal. The company posted total income of Rs 465.09 crore during the fiscal, a 53.21% increase compared to Rs 303.57 crore total income in the last fiscal.
The company reported domestic sales of Rs 444.93 crore, during the quarter, and overseas market sales of Rs 20.16 crore. During the quarter, Net 4 India Ltd informed that its overseas wholly owned subsidiary, the Singapore-based Net 4 Singapore Pte. Ltd, had been de-registered from the Accounting and Corporate Regulatory Authority (ACRA), Singapore w.e.f. December 29, 2011 and Archna Walia has been appointed as the Company’s Secretary & Compliance Officer replacing Krishan Kumar Nagpal.
Last quarter, Net 4 India had re-appointed Jasjit Singh Sawhney and Amarjit Singh Sawhney as the Managing Director & whole-time Director, respectively, for a period of three years while Kamlesh Gandhi was appointed as an additional director on the company’s board who will be working as an Independent Director in the Company. In July 2011, the company had got an approval from its board of directors, for re-organizing its business. The ISP business of the company was demerged into Net 4 Network Services and Pipetel Communications, a wholly-owned subsidiary of the company, which offers Enterprise Internet Services, VoIP Solutions and Web Services billing and provisioning platforms, was merged with the company.