MAARS SOFTWARE INTERNATIONAL - MOVING UP SOFTLY
Article Abstract:
Maars Software International (MSI), a software major, had floated a public issue in January 1996 at par to finance its Rs5.50 crore project to strengthen its software consultancy services. It is mainly involved in system integration and turn- key solutions for manufacturing industries. In 1997, It made a net profit of Rs3.69 crore, against the projected Rs1.51 crore, on a turnover of Rs16.59 crore, more than the projected Rs8.92 crore. Its income included export earnings of Rs9.96 crore. MSI entered the market through its wholly-owned subsidiary, Hi-Tech Software Services Inc, which has partnerships with IBM, CBSI and Cooper & Lybrand in USA. In 1996-97, MSI entered the ERP segment with its product, called MAARSMAN, which is a manufacturing solution for small/ medium-scale industries. To market this solution, MSI tied up with Aptech and by December 1998, it had already implemented MAARSMAN in 5 corporate houses. In the 6 months ended June 30, 1998, MSI posted a total income of Rs14.93 crore and a net profit of Rs3.01 crore. (gsh)
Comment:
Makes net profit of Rs3.69 crore vs projected Rs1.51crore, on turnover of Rs16.59 crore vs projected Rs8.92 crore, in 1997
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MAARS SOFTWARE INTERNATIONAL LIMITED
Article Abstract:
Provisional unaudited financial results of Maars Software International Limited, Kodambakkam, Chennai for the second quarter ended September 30, 1998 have been announced. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MAARS SOFTWARE INTERNATIONAL LIMITED: FINANCIAL RESULTS
Article Abstract:
MAARS Software International Ltd of Chennai has announced its audited financial results for the year ended December 31, 1998. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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