AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 31.12.2002
S.NO PARTICULARS SECOND QUARTER ENDED
31.12.2002
(1) 		SIX MONTHS ENDED
31.12.2002
(2)		 PREVIOUS YEAR ENDED
30.06.2002
(3)
1 NET SALES/INCOME FROM OPERATIONS 438.89 883.35 1,231.01
2 OTHER INCOME 16.71 16.90 5.85
3 TOTAL 455.60 900.25 1,236.86
4 TOTAL EXPENDITURE      
  (A) STAFF COST 125.01 210.74 318.38
  (B) OTHER EXPENSES 173.09 338.01 710.96
  (C) PROVISION FOR IMPLEMENTATION EXPENDITURE - 30.00 -
5 INTEREST - - 5.23
6 DEPRECIATION 57.80 112.80 117.15
7 PROFIT(+)/LOSS(-) BEFORE TAX(3-4-5-6) 99.70 208.70 85.14
8 PROVISION FOR TAXATION - - -
9 NET PROFIT(+)/LOSS  (7-8) 99.70 208.70 85.14
10 PAID-UP EQUITY SHARE CAPITAL  1,629.28 1,629.28 1,629.28
11 RESERVES EXCLUDING REVALUATION RESERVES( AS PER BALANCE SHEET OF PREVIOUS ACCOUNT YEAR TO BE GIVEN (5))   - - 1,021.68
12 BASIC AND DILUTED EPS(IN RS) FOR THE PERIOD, FOR THE YEAR TO DATE AND FOR THE PREVIOUS YEAR  
(NOT TO BE ANNUALIZED ) 		0.61 1.28 0.52
13 AGGREGATE OF NON-PROMOTERS SHAREHOLDING
    - NUMBER OF SHARES
    - PERCENTAGE OF SHAREHOLDING 		12157225
74.62 		- -

Note :
Corresponding figures for the previous periods not available as this is the first year of publication of consolidated quarterly results

AUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 31.12.2002 OF THE HOLDING COMPANY SYNERGY LOG-IN SYSTEMS LTD.
(RS. IN LAKHS)
S.NO PARTICULARS SECOND QUARTER ENDED
31.12.2002
(1) 		SECOND QUARTER ENDED
31.12.2001
(2) 		SIX MONTHS ENDED
31.12.2002
(3)		 SIX MONTHS ENDED
31.12.2001
(4) 		PREVIOUS YEAR ENDED
30.6.2002
(5)
1 NET SALES/INCOME FROM OPERATIONS 290.22 349.84 575.66 657.58 1,158.25
2 OTHER INCOME 16.71 2.13 16.90 2.42 5.85
3 TOTAL 306.93 351.97 592.56 660.00 1,164.10
4 TOTAL EXPENDITURE    
  (A) STAFF COST 125.01 66.75 210.74 141.89 318.38
  (B) OTHER EXPENSES 50.29 221.18 93.32 401.36 611.22
  (C) PROVISION FOR IMPLEMENTATION EXPENDITURE - - 30.00 - -
5 INTEREST - - - 0.51 5.23
6 DEPRECIATION 57.80 12.96 112.80 25.92 116.68
7 PROFIT(+)/LOSS(-) BEFORE TAX(3-4-5-6) 73.83 51.08 145.70 90.32 112.59
8 PROVISION FOR TAXATION - - - - -
9 NET PROFIT(+)/LOSS  (7-8) 73.83 51.08 145.70 90.32 112.59
10 PAID-UP EQUITY SHARE CAPITAL  1,629.28 1,629.28 1,629.28 1,629.28 1,629.28
11 RESERVES EXCLUDING REVALUATION RESERVES (AS PER BALANCE SHEET OF PREVIOUS ACCOUNT YEAR TO BE GIVEN (5)) - - - - 1,140.18
12 BASIC AND DILUTED EPS(IN RS) FOR THE PERIOD, FOR THE YEAR TO DATE AND FOR THE PREVIOUS YEAR  
(NOT TO BE ANNUALIZED )		 0.45 0.31 0.89 0.55 0.69
13 AGGREGATE OF NON-PROMOTERS SHAREHOLDING
    - NUMBER OF SHARES
    - PERCENTAGE OF SHAREHOLDING 		12157225
74.62 		- - - -

Notes :
1 The above Statement of audited financial results was taken on record by the Board of Directors at their Meeting held on 21st January 2003. Figures have been regrouped wherever necessary.
2 Provisions:
- No provision has been made for Income Tax as there was no liability
- The Company provides depreciation on Computer Hardware on an accelerated basis according to which the cost of Computer Hardware would be written off over a period of 3 years. On account of this policy the depreciation charged is more by Rs 2.50 lacks for the quarter ended 31.12.2002 and Rs. 5.00 lacs for the half year ended on that date and the net profit is understated to the same extent.
- For Product Amortization, the policy has been changed to provide for the full year Depreciation for products sold in the relevant quarter itself rather than on a prorata basis.
3 The Audit Committee has reviewed the financial results.
4 As the results pertaining to single segment, the segment reporting under Accounting Standards 17 is not applicable.
5 The Products Business again had a good quarter with Sign - ons from customers like Punjab National Bank, Bank of Bahrain & Kuwait, India and Bank Muscat, Oman.
   
  For and on behalf of the Board of
             SYNERGY LOG-IN SYSTEMS LIMITED

 
 
Place : Chennai V.SANJAY KUMAR
Date   : 21st January 2003 MANAGING DIRECTOR

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