Brightcom Group Limited
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BSE Code:
532368
NSE Code:
BCG
Business Profile
Business Profile
Lanco Global Systems (LANCOGLO) was incorporated in 1999. It is a global IT services provider focusing on delivering customized business solutions. LANCOGLO merged with Lanco Global Systems Inc, USA with effect from April 1, 2005.
The ISO 9001:2000 certified company offers services like IT governance, compliance and security services, enterprise resource planning, SAP, Oracle, eBusiness applications, customer relationship management, business intelligence and data warehousing; solution offered include implementations, application development, upgrade and migration, application management services, testing and QA, infrastructure support services, and business process outsourcing. LANCOGLO caters to the requirements of sectors like financial services, manufacturing, healthcare, life sciences, chemicals and government agencies.
In FY07, Lanco Global Systems reorganized operations by shifting its development center in Hyderabad and shifted its branch in USA to Princeton after the merger. It has other branches in Sterling, Atlanta, and Irving, all in USA. The company has Techorbit Inc., USA and Global It Inc., USA as its subsidiaries. LANCOGLO has alliances with Oracle, Cognos, Infinite Dimensions, Clear Blue, Sitara, SAP, Virsa Systems and others. The company has been associated with BASF over five years as its extended IT arm. Other clients include COMSYS, GE Energy, IBM, Ryan Beck & Co., Genpact, Digital Globe, Johnson and Johnson, Prudential Financial, SRSL, and P4 LLC to name a few.
The registered and corporate office of LANCOGLO is located at Andhra Pradesh, India.
Financials
On a standalone basis, Lanco Global Systems registered a 329.12% growth in net profit to Rs 42.44 million for the quarter ended September 2007 from a profit of Rs 9.89 million for the quarter ended September 2006.
Net sales increased 4.97 times to Rs 263.3 million for the quarter ended September 2007 from Rs 52.93 million for the quarter ended September 2006.
Total income rose 386.60% to Rs 263.64 million for the quarter ended September 2007 from Rs 54.18 million for the quarter ended September 2006.
On a consolidated basis, the company registered a profit of Rs 71.13 million for the quarter ended September 2007.
It recorded a net sales of Rs 569.27 million for the quarter.
Total income was Rs 569.61 million for the quarter ended September 2007.
Recent Developments
04-JAN-08
On Dec. 29, 2007, the shareholders authorized the board to raise upto Rs 2 billion by issue of FFCBs, ADRs, GDRs and other financial instruments in international or domestic markets. The members increased the borrowing limit of the company upto Rs 2 billion and authorized the board to invest up to Rs 3 billion to acquire equity/preference shares, instruments convertible into shares by way of subscription and other means.