Ontrack Systems Ltd. has reported a higher first-quarter earnings of Rs 7.6 crore, an increase of 22.46 percent compared with Rs 6.3 crore in the year-ago quarter.
Gross profit for the first three months of the current financial year was up 2.77% to Rs. 229.35 lakhs compared with Rs. 223.17 lakhs for the same quarter in the previous fiscal year. Profit after Tax has shown a decline to Rs.32.33 lakhs for Q1 of the current fiscal compared with Rs.51.62 lakhs, mainly due to the expenditure incurred for establishment of Holland operations this year.
The company said while business from Europe during Q1 in the current fiscal registered 54.71% growth, the domestic business during this period increased by 14.40%.
The company owned 'tendertimes.com", a tender web daily, and 'IndiaOneStop.com', a B2B website.
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