Zylog Systems reveals Q4 FY13 results at Rs. 561.2 crore
VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Chennai based technology solutions and software service provider, Zylog Systems has announced its quarter fourth and twelve months results ended 31st March 2013. Sudarshan Venkatraman, Chairman & CEO, Zylog Systems said, “The Direct costs vis-à-vis the Revenue have jumped 2.9% year-on-year which was due to re-deployment onsite of costs due to several project and manpower related issues which are in the process of getting resolved during the FY 2014. The PAT has taken a sizeable hit primarily due to substantial increases in interest and depreciation charges.” He added, “There has also been an increase in global clientele, who have appreciated the Company’s solutions in a highly competitive environment. The Company has raised USD 20 Million during the first quarter of the FY2014 by diluting its equity capital by way of a GDR offering. " The highlights of the quarterly results show that the consolidated revenues stood a