ASIT CMEHTA FINANCIAL SERVICES LTD
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BSE Code:
530723
NSE Code:
ASITCFIN
Business Profile
Business Profile
Asit C Mehta Financial Services (ASITCFIN), incorporated as a public limited company on Jan. 25, 1984, focuses on short and long-term investments into technology and financial services industries. Earlier known as Nucleus Netsoft & GIS (India), it got its present name with effect from Oct. 06, 2008. The company is part of the Nucleus Group of Mumbai which has business activities in financial and information-technology enabled services. Asit C. Mehta Investment Intermediates, Asit C. Mehta Forex, Nucleus Agencies, Asit Mehta Comdex, Nucleus Art Studio, and Nucleus Netsoft & GIS India are other group companies.
Operating from Mumbai, the company offers services such as geographical information system (GIS), nucleus automatic vehicle location (NAVL) and distribution management system (DMS) are offered. It provides location-based services; web mapping; supply chain management; remote sensing; digital photogrammetry; AM/FM for utilities and telcos; GIS in local government, business geographics and global positioning system segments of the spatial technologies marketplace.
Offshore business revenues are sourced predominantly from the US market. Focused on the document management solutions marketplace, the company has a team of professionals in technology, project management, sales and marketing, and finance. Nucleus GIS Inc. is a subsidiary in USA. Nucleus GIS and ITES, another subsidiary, handles the ITES business.
The registered office is at Nucleus House, Saki Vihar Road, Opposite L&T Gate No. 7, Andheri (E), Mumbai-400072.
Financials
Asit C Mehta Financial Services registered a 2,728.57% growth in net profits to Rs 5.94 million for the quarter ended June 2008 from a profit of Rs 0.21 million for the quarter ended June 2007.
It recorded a net sales of Rs 13.26 million for the quarter ended June 2008.
Total income rose 1,484.55% to Rs 19.49 million for the quarter ended June 2008 from Rs 1.23 million for the quarter ended June 2007.
The earnings per share (EPS) of the company stood at Rs 1.2 for the quarter ended June 2008.
Recent Developments
21-JUN-08
The shareholders have approved the transfer of the ITES business of the company to the wholly-owned subsidiary - Nucleus GIS And ITES by way of postal ballot.
30-APR-08
On Apr. 28, 2008, the board of directors:
- Proposed to form and then transfer the company`s information technology business to a wholly owned subsidiary company under the name Nucleus GIS And ITES.
- Proposed to make investment not exceeding Rs 150 million in the subsidiary.