UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTHS ENDED 30.09.2002
(Rs. IN LAKHS
S.NO PARTICULARS 3 MONTHS ENDED
30.09.2002 		CORRESPONDING 3 MONTHS ENDED
30.09.2002		 AUDITED FIGURES FOR THE PREVIOUS YEAR ENDED
30.06.2002
1 NET SALES/INCOME FROM OPERATIONS 444.46 307.74 1,158.25
2 OTHER INCOME 0.19 0.29 5.85
3 TOTAL 444.65 308.03 1,164.10
4 TOTAL EXPENDITURE      
  (A) STAFF COST 85.73 75.14 318.38
  (B) OTHER EXPENSES 164.92 180.18 611.22
  (C) PROVISION FOR IMPLEMENTATION EXPENDITURE 30.00 - -
5 INTEREST & FINANCE CHARGES - 0.51 5.23
6 DEPRECIATION 55.00 12.96 116.68
7 PROFIT(+)/LOSS(-) BEFORE TAX(3-4-5-6) 109.00 39.24 112.59
8 PROVISION FOR TAXATION - - -
9 NET PROFIT(+) / LOSS  (7-8) 109.00 39.24 112.59
10 PAID-UP EQUITY SHARE CAPITAL  1,629.28 1,629.28 1,629.28
11 RESERVES EXCLUDING REVALUATION RESERVES   - - 1,140.18
12 BASIC AND DILUTED EPS FOR THE PERIOD, FOR THE YEAR TO DATE AND FOR THE PREVIOUS YEAR  
(NOT TO BE ANNUALIZED ) 		0.67 0.24 0.69

Notes:
1 The above Statement of unaudited financial results was taken on record by the Board of Directors at their Meeting held on 22nd October, 2002. 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 Harder on an accelerated basis according to which the cost of Computer Harder 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 30.09.2002 and the net profit 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 Company witnessed increased traction in its Product Business and concluded 3 prestigious orders with People's Bank, Sri Lanka, Bank of Bahrain and Kuwait and ING - Vysya Bank. There is adequate traction for the coming quarter and the focus has shifted to delivery against these orders.
4 The overseas operations in the service business witnessed some expansion and are profitable. The Management is not planning any significant expansion for the time being under current market conditions.
5 The Audit Committee has reviewed the financial results
   
  For and on behalf of the Board of
SYNERGY LOG-IN SYSTEMS LIMITED

 
 
Place : Chennai V.SANJAY KUMAR
Date   : 22th October 2002 MANAGING DIRECTOR

<< Close