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Geodesic Profits Down 49.4% At Rs 42.42 Crore; Tie-Up With Delhi Metro

Geodesic, the digital messaging and content solutions company, has reported consolidated net sales of Rs 203.43 crore for the quarter ended June 30th 2012, down by 18.14% from Rs 248.51 crore reported during the same quarter last fiscal. The net profit for the period was Rs 42.42 crore, a sharp decline of 49.4% from Rs 83.85 crore profit during the same quarter last fiscal.

The company says, that in a bid to make the company financially stronger, it has consciously decided to reduce its exposure to customers whose payment cycles have been affected/ stretched due to the global economic crisis.  Geodesic blames the reduced exposure for the fall in its sales during the last quarter.

Geodesic also informs that it is aligning with ‘stronger partners’ to consolidate business and for revenue growth. It says that it has remodeled its product and business lines to extend its reach to include new market segments including pharmaceutical, logistics and FMCG.

DownloadPress Release | Financials

Product Updates:

– Geodesic launched e-TORF (True or False) – a product authentication and validation service. e-TORF allows a consumer to identify the genuineness of the product he/she has purchased by sending an SMS to a pre-designated mobile number. e-TORF’s uses simple numbered scratch cards printed on the product coupled with an SMS to authenticate and validate a product. It is currently undergoing trials with established companies and brands, according to the company.

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– Spokn, the company’s VoIP service launched a web and a mobile call back service, which, as per Geodesic, is deeply integrated with Spyder and .fn financial products to deliver better pre and post sales customer experience.

– Geodesic financial applications suite – launched ‘Investa’ a desktop-based Investor Centric portfolio analytic and decision-making platform.

– Mundu TV: was launched on Blackberry phones –  Blackberry users can now watch Live TV on the go from their device. Mundu TV added a devotional content category to the bouquet of the existing 50 odd channels. The company claims that Mundu TV now has more than 8 million downloads.

Software and Solution Agreements:

– Delhi Metro Rail Corporation Ltd. (DMRC)  launched “More Delhi” Common mobility card for DMRC run feeder buses. DMRC is using GeoAmida Handheld terminals, for bus conductors to issue tickets either through “More Delhi” contactless cards or through cash. Geodesic has developed the ticketing application and has integrated it with DMRC’s back-end BIS system.

– Geodesic signed contracts with Religare Securities, Kotak Securities and Axis Bank Ltd to provide them with its financial products and solutions.

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– It also signed a contract with a leading Private Bank to provide a Wealth Management Suite.

– The company forayed into the logistics industry, to provide pick-up and tracking solutions to VRL Logistics. The company will deploy GeoAmida to automate vehicle & goods movement.

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