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Geodesic Q1-FY13: Profits Down 40.7% At Rs 35.61 Cr; New Products & Agreements

Geodesic, the digital messaging and content solutions company, has reported consolidated net sales of Rs 170.3 crore for the quarter ended September 30, 2012 (Q1-FY13), down 29.3% from Rs 240.9 crore revenues reported during the same quarter last year. The net profit for the period was Rs 35.6 crore, a sharp decline of 40.74% from Rs 60.1 crore profit during the same quarter last year. The company says that it has remodeled and optimized its business development and marketing teams during the quarter, in order to focus on vertical segments and move away from the product marketing line. Geodesic notes that this development has helped the company to cross sell and maximize its product and solution sales to existing enterprises and prospective customers. It also informs that it continues to reduce its exposure to customers whose payment cycles have been affected…

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