Geodesic Limited announces consolidated results for the second quarter ended September 30, 2011
- Geodesic reported revenues of Rs.240.85 crores during the quarter ended September 30, 2011.
- Geodesic reported earnings of Rs.60.08 crores during the quarter ended September 30, 2011.
- EPS stood at Rs.6.67 during the quarter ended September 30, 2011.
- Geodesic added 12 new enterprise customers and 2 strong enterprise partners during the quarter ended September 30, 2011
Mumbai - November 4, 2011 - Geodesic Ltd today announced financial results for the quarter ended September 30, 2011.
Geodesic reported consolidated revenues of Rs.240.85 crores and earnings of Rs.60.08 crores during the quarter ended September 30, 2011. Geodesic’s consolidated EPS stood at Rs.6.67 for the quarter ended September 30, 2011.
The amount of Rs.35.30 crores under depreciation/ amortization includes amortization of goodwill on consolidation as per IFRS standards, thereby affecting consolidated profits.
The US Dollar, during the quarter, appreciated against the Indian Rupee resulting in a notional loss of Rs.29.27 crores on forward contracts on account of Mark to Market.
Final dividend for the year 2010-11 @ Rs.1.40 per share (70% on the face value of equity share) was declared by the shareholders in the Annual General Meeting held on 30th September, 2011 and paid on 21st October, 2011.
Geodesic added 39 employees during the quarter ended September 30, 2011.
Ms. Radhika Pereira - a legal expert and a graduate in Life Sciences and Law from Mumbai University and a postgraduate from Harvard as well as Cambridge universities joined the Geodesic Ltd Board as a Non-executive Independent Director.
Geodesic launched Mundu Universal Messenger (Mundu UM)- an exclusive cross platform messaging application that allows users to send text and voice messages to phone contacts over the instant messaging application and SMS thereby effectively addressing the global handset market effectively. Mundu UM has been designed as a primary mobile communication and messaging application
Geodesic launched Mundu TV for the Blackberry range of smart-phones during the quarter ended September 30, 2011.
Mundu TV added 17 new channels to provide retail consumers with a wider range of content in the space of entertainment, lifestyle, regional and news. Mundu TV channels include NYTimes and content from Bluefrog lounge - a popular destination in Mumbai for Live performances.
Geodesic's subsidiary Chandamama India Limited commemorated its 64th year by releasing the Chandamama application on the Apple Appstore. The beautifully illustrated and cleverly animated stories can be read or heard on the iPhone, iPod or iPad in English and nine regional languages.
Geodesic announced the new range of GeoAmida hand-held devices. These devices include an integrated QWERTY keypad, inbuilt camera and magnetic swipe reader targeted to the Mobile payment segment.
Geodesic signed software product and solution agreements with the following organizations:
- Shenzhen Geniatech Inc. Ltd, a China based hardware & software provider, to preload Mundu IM and Mundu Radio apps on their Android TV Set Top Box devices.
- Android tablet deal with ASRT Corp., a pioneer in advanced electronic and software products, to prebundle Mundu IM and Mundu Radio on all their consumer devices.
- Mumbai's No. 1 telecom network operator Loop Mobile launched the Smart Chat IM service based on popular Mundu technology.
- Business Link Automation India Limited, a system integrator and technical support company, to pre-bundle Mundu TV for their tablets which would be branded as Skytel.
- Sharekhan.com, IndiaInfoline and iEngine to deploy Geodesic’s .fn range of financial products and solutions.
- Mobicash, an African enterprise in space of micro payment for Geoamida terminals equipped with contact-less card and biometric technologies, to deliver financial services in Botswana, Uganda, South Africa and Congo.
- Digital Persona, one of the world’s leading biometric solution provider to explore jointly, go-to-market programs across the globe, addressing biometric enabled branchless banking and other solutions.
- Partnership Agreement with Infosys Ltd, India’s leading technology giant, to pre-bundle its Mundu suite of products for their app stores utilized by Aircel.
- Geodesic successfully deployed its GPS tracking system coupled with video/still frames to provide security and traffic monitoring solution for the Mumbai Police. This solution was implemented to monitor and control the flow of vehicles and processions during the Ganpati Visarjan across Mumbai.
ABOUT GEODESIC LIMITED
Geodesic Limited is an innovator in software products focused on Information, Communication and Entertainment (ICE) for mobile phones and desktop computers. Headquartered in Mumbai, India, Geodesic's Mundu suite of products includes solutions for Instant Messaging, Mobile Voice-over-IP and Internet Radio. Since its inception in 1999, the Mundu Interoperable Instant Messenger has been used by several hundred thousand users on the mobile phone and over 5 million users on the desktop. The company is listed on the National Stock Exchange and Bombay Stock Exchange in India. Geodesic has offices in Mumbai, Bangalore, Chennai and Hyderabad in India, USA, Uruguay, UK, UAE, Hong Kong and Mauritius.
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