| Balance Sheet as at | Schedule |
March 31, 2010 |
| SOURCES OF FUNDS | ||
| SHAREHOLDERS' FUNDS | ||
| Share capital | 1 | 1,00,00,000 |
| Reserves and surplus | 2 | 1,24,06,887 |
| DEFERRED TAX LIABILITIES | 4 | 1,02,708 |
| 2,25,09,595 | ||
| APPLICATION OF FUNDS | ||
| FIXED ASSETS | 3 | |
| Original cost | 43,56,215 | |
| Less: Accumulated depreciation and amortization | 9,97,667 | |
| Net book value | 33,58,548 | |
| DEFERRED TAX ASSETS | 4 | 32,34,441 |
| CURRENT ASSETS, LOANS AND ADVANCES | ||
| Sundry debtors | 5 | 2,10,69,587 |
| Cash and bank balances | 6 | 2,56,36,189 |
| Loans and advances | 7 | 1,04,52,753 |
| 5,71,58,529 | ||
| LESS: CURRENT LIABILITIES AND PROVISIONS | ||
| Current liabilities | 8 | 2,99,28,449 |
| Provisions | 9 | 1,13,13,474 |
| NET CURRENT ASSETS | 1,59,16,606 | |
| 2,25,09,595 | ||
| SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS | 15 |
Note: The schedules referred to above are an integral part of the Balance Sheet.
As per our report attached
for B S R & Co.
Chartered Accountants
| Supreet Sachdev Partner Membership No. 205385 |
S. D. Shibulal Director |
Chandra Shekar Kakal Director |
B. G. Srinivas Director |
| Bangalore April 8, 2010 |
|||
| Profit and Loss account for the period ended | Schedule |
March 31, 2010 |
| Income from software services | 9,28,43,311 | |
| Software development expenses | 10 | 6,94,28,548 |
| GROSS PROFIT | 2,34,14,763 | |
| Selling and marketing expenses | 11 | 779 |
| General and administration expenses | 12 | 1,22,34,227 |
| 1,22,35,006 | ||
| OPERATING PROFIT BEFORE DEPRECIATION | 1,11,79,757 | |
| Depreciation | 997,667 | |
| OPERATING PROFIT BEFORE TAX | 1,01,82,090 | |
| Other income, net | 13 | (9,06,936) |
| NET PROFIT BEFORE TAX | 92,75,154 | |
| Provision for taxation | 14 | (31,31,734) |
| NET PROFIT AFTER TAX | 1,24,06,887 | |
| AMOUNT AVAILABLE FOR APPROPRIATION | 1,24,06,887 | |
| Balance in Profit and Loss account | 1,24,06,887 | |
| 1,24,06,887 | ||
| EARNINGS PER SHARE | ||
| Equity shares of par value Rs. 5/- each | ||
| Basic | 23.96 | |
| Number of shares used in computing earnings per share | ||
| Basic | 5,17,808 | |
| SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS | 15 |
Note: The schedules referred to above are an integral part of the Profit and Loss account.
As per our report attached
for B S R & Co.
Chartered Accountants
| Supreet Sachdev Partner Membership No. 205385 |
S. D. Shibulal Director |
Chandra Shekar Kakal Director |
B. G. Srinivas Director |
| Bangalore April 8, 2010 |
|||