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Geodesic Q2-FY13: Profits Down By 82.37% To Rs 9.83Cr; New GeoAmida Tie-ups

Geodesic, the digital messaging and content solutions company, has reported a net profit of Rs 9.83 crore for the quarter ending December 31, 2012, a sharp decline of 82.37% from Rs 55.75 crore profit in the same quarter last year. The company reported a consolidated net sales of Rs 222 crore for the quarter, down 6.72% from Rs 238 crore revenues reported during the same quarter last year. The net profit for the period was Rs 9.83 crore, a sharp decline of 82.37% from Rs 55.75 crore profit during the same quarter last year. The company has currently written off a sum of Rs 25 crore towards bad and doubtful debts, however, it plans to write back the money if it receives the money from its debtors. Geodesic also informs that it continues to reduce its exposure to customers whose payment cycles have been affected or stretched.…

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