Had a very generic talk with the Company Secretary Mr. Mohan. It wasn’t difficult to reach him and he sounded pretty positive about the business prospect. Below are the details.
Q. Scale of disruption in the normal business functioning due to Chennai rains
A. No major disruption. Out of three divisions two were working completely fine. In one division there was very minor disruption. Just that the employees were not able to report during the daytime which had very minor effect on the domestic payroll business. International business was doing ok as people in night shift were able to report. Due to insignificant disruption no notice was given to BSE/NSE.
Q. How is the business doing? Reasons for the turnaround?
A. The business has improved at both domestic and International fronts. The 2 international subsidiaries have also turned around and reporting profits due to addition of clients.
Q. Sustenance or improvement of earnings going forward?
A. Company has added clients at both foreign and domestic front. The business is doing good. In quarter 2 there was other income of 5Cr. due to tax refund which of-course won’t be same for Q3.
Regards
Krishna
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