Profit and Loss Account for the |
Schedule |
Period ended December 31, |
| 2009 | ||
| Income from software services and business process management | 2,72,07,679 | |
| Software development and business process management expenses | 7 | 3,55,77,587 |
| GROSS PROFIT | (83,69,908) | |
| Selling and marketing expenses | 8 | 1,41,744 |
| General and administration expenses | 9 | 2,84,09,626 |
| 2,85,51,370 | ||
| OPERATING PROFIT before interest and depreciation | (3,69,21,278) | |
| Interest | – | |
| Depreciation | 83,17,391 | |
| OPERATING PROFIT before tax | (4,52,38,669) | |
| Other income, net | 10 | 5,77,304 |
| Provision for investments | – | |
| NET PROFIT before tax | (4,46,61,365) | |
| Provision for taxation | – | |
| NET PROFIT after tax | (4,46,61,365) | |
| EARNINGS PER SHARE (EPS) | ||
| Equity shares of par value 1 BRL each | ||
| Basic | (30.2) | |
| Number of shares used in computing basic earnings per share | 14,77,062 | |
| SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS | 11 |
Note: The schedules referred to above are an integral part of the Balance Sheet.
| For Shenoy & Kamath Chartered Accountants |
|
| M Rathnakar Kamath Membership No. 202841 |
V. G. Dheeshjith Sole Manager |
| Bangalore January 7, 2010 |
Schedules to the Balance Sheet as at |
December 31, 2009 | |
| 1 | SHARE CAPITAL | |
| Authorized Capital | ||
| 1,12,00,000 Shares of 1 BRL par value | 29,51,41,647 | |
| 29,51,41,647 | ||
| Issued, subscribed and paid up | ||
| 65,04,700 Shares of 1 BRL par value, fully paid | 17,14,11,417 | |
| 17,14,11,417 | ||
Schedules to the Balance Sheet
2. FIXED ASSETS
Description |
Original cost |
Depreciation and amortization |
Net book value |
|||||||
| As at Jan 1, 2009 |
Additions/ Adjustments |
Deletions/ Retirement/ Adjustments |
As at Dec 31, 2009 |
As at Jan 1, 2009 |
For the period | Deletions / Adjustments | As at Dec 31, 2009 |
As at Dec 31, 2009 |
As at Dec 31, 2008 |
|
| Plant and Machinery | – | 1,24,08,132 | – | 1,24,08,132 | – | 9,84,677 | – | 9,84,677 | 1,14,23,455 | – |
| Computer Equipment | – | 3,59,40,725 | – | 3,59,40,725 | – | 41,22,403 | – | 41,22,403 | 3,18,18,321 | – |
| Furniture and Fixtures | – | 4,20,40,344 | – | 4,20,40,344 | – | 32,07,572 | – | 32,07,572 | 3,88,32,772 | – |
| Total | – | 9,03,89,201 | – | 9,03,89,201 | – | 83,14,652 | – | 83,14,652 | 8,20,74,549 | – |
Previous Year |
– | – | – | – | – | – | – | – | – | – |
Schedules to the Balance Sheet as at |
December 31, 2009 | |
| 3 | SUNDRY DEBTORS | |
| Unsecured | ||
| Considered good | 1,07,63,754 | |
| 1,07,63,754 | ||
| Less: Provision for doubtful debts | – | |
| 1,07,63,754 | ||
| 4 | CASH AND BANK BALANCES | |
| Balances with non-scheduled banks in foreign currency | ||
| In current accounts | 5,71,00,613 | |
| 5,71,00,613 | ||
| 5 | LOANS AND ADVANCES | |
| Advances | ||
| For supply of goods and rendering of services | 3,00,272 | |
| Others | 11,60,376 | |
| 14,60,648 | ||
| Unbilled revenues | 2,06,64,192 | |
| Loans and advances to employees | ||
| Salary advances | (3,89,735) | |
| 2,17,35,105 | ||
| 6 | CURRENT LIABILITIES | |
| Sundry creditors | ||
| Capital | 1,85,77,221 | |
| Goods and services | 1,35,55,048 | |
| Accrued salaries and benefits | ||
| Bonus and incentives | 2,287 | |
| For other liabilities | ||
| Provision for expenses | 43,23,653 | |
| Withholding and other taxes payable | 57,09,357 | |
| 4,21,67,566 | ||