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Genesys International profit jumps 71%

Mumbai, India: Genesys International, a leading player in GIS and digital map content announced its unaudited financial results for the quarter ended June 30, 2010. The company’s PAT stands at Rs 1,277.48 lacs as against Rs 745.13 lacs last year, a jump of 71%.

It reported an increase of 13% in its consolidated Income from Operations, which stands at INR 2,250.65 lacs in the first quarter of FY 2010-11 as against Rs 1,983.26 lacs in the same period last year. EPS climbed by 71% to Rs 4.28 from Rs 2.50 during the same period.

Sajid Malik, Chairman & Managing Director of Genesys International said, “Our strong results are a manifestation of our goal to be a strong IP and content driven player. Our proprietary data, tools and algorithms coupled with our strong association with world leaders in geo spatial technology allow us to offer niche solutions to various verticals in consumer as well as enterprise markets. Given this, we are confident of our continued success and growth.”

During the quarter, the company was awarded the prestigious contract to map the Holy cities of Mecca and Medina, along with three other cities, by the Government of Saudi Arabia. The company also entered into a landmark licensing deal for 3D content of the top 10 cities in India for the local search, mobile VAS.

An eminent jury of India’s leading scientists, policymakers and industry peers awarded Sajid Malik, “The Geospatial Businessman of the year” title, for the company’s innovative and sustained contribution to the growth of the Indian Geospatial industry.

Source: Equity Bulls