Q3 Results - Net sales of Rs. 11.02 crores (48% growth sequential Q o Q)- Profit after tax 3.26 crores (Up by 68% sequential Q o Q). For the 9 months ended December 2002. Net sales of Rs. 25.33 crores as against Rs. 23.19 crores of 12 months erstwhile CSIL- Profit after Tax is Rs. 7.12 crores.

Cranes Software International Ltd. (CSIL), a global scientific and engineering products and solutions provider, today announced its results for the third quarter ended December 31, 2002. The company posted a 48% sequential quarter on quarter growth with a turnover of Rs. 11.02 (Rs. 7.47 Crores in Q2). The results showed Rs. 7.32 crores coming from the overseas market and Rs. 3.7 crores from the domestic market. After a charge of Rs. 0.69 crores as depreciation, Profit before tax stands at Rs. 3.76 crores (Rs. 3.04 crores Q2). After provision of Rs. 0.5 crores for current taxation and deferred taxation, Net profit for the quarter has grown sequentially by 68% to Rs. 3.26 crores (Rs. 1.94 crores Q2). For the 9 months ended December 2002, the company recorded net sales of Rs. 25.33 crores. The profit after tax at Rs. 7.12 crores.

The CSIL Board of Directors approved these results at a meeting held in Bangalore India, on January 30, 2003. The company decided to post its consolidated results annually. Commenting on the company's year end prospects, Mr. Asif Khader, Managing Director said, "Going forward we expect to end this year a very robust growth on a consolidated basis which would not only meet the expectations but comfortably surpass it."