Sql Star International announces audited financial results for the quarter and year ended 31st December, 2001.

Hyderabad, March , 2002: The Board of Directors of SQL Star International Limited, at their meeting , took on record the Audited Financial Results for the quarter and year ended 31st December, 2001.

The company has recorded a revenue of Rs. 1077.37 lakhs (including Other Income  of Rs. 4.21 lakhs) for the quarter ended 31st December, 2001, (quarter ended  31st December, 2000, Rs.1329.09 lakhs). After taking into account Interest of  Rs.29.78 lakhs (quarter ended 31st December, 2000, Rs.21.73 lakhs) and Depreciation of Rs.42.16 lakhs (quarter ended 31st December, 2000, Rs.41.46 
lakhs) the company’s Profit Before Tax stood at Rs.42.12 lakhs (quarter ended 31st December, 2000, Rs106.52 lakhs). Profit After Tax stood at Rs.0.83 lakhs (quarter ended 31st December, 2000, Rs.79.78 lakhs). 

For the year ended 31st December, 2001, the company has recorded a Revenue of  Rs. 4736.25 lakhs (including Other Income of Rs. 36.75 lakhs) (year ended 31st December, 2000, Rs. 4598.88 lakhs). After taking into account, Interest of Rs. 124.76 lakhs and Depreciation of Rs. 181.58 lakhs , the Company recorded a Profit Before Tax of Rs. 100.39 lakhs (year ended 31st December, 2000, Rs. 471.10 lakhs) and a Profit after Tax of Rs. 28.50 lakhs (year ended 31st December, 2000, Rs. 413.86 lakhs). 

As a result of the overall market slow down, operating margins of the Company have been under pressure. Both Software and Education business have been affected as a consequence of the slow down. Several measures have been taken in the company to realign its resources and costs structures, which will help in consolidation of operations. 

SQL Star International Ltd., an IT solutions corporation is involved in providing solutions in the Internet space, Software development and services and IT Education. The thrust is on Internet technologies, web enabling legacy systems and e-business solutions. Additional information about SQL Star is 
available at the company’s website http://www.sqlstarintl.com. 

Reachout's News Bureau
-March '2002

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