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Valuemart reduces accumulated losses

BANGALORE: Valuemart Info Technologies, a Bangalore-based IT and BPO company, has posted a turnover of Rs. 1.92 crore in the nine months ended March 31, 2006, as compared to Rs. 18.53 lakh in 2005 (15 months), registering a ten-fold increase. The net profit (excluding other income) stood at Rs. 71.24 lakh against a loss (excluding other income) of Rs. 39.89 lakh for the 15 month period ended June 30, 2005. Announcing the results, C. K. Vasudevan, Managing Director, said, "We have completed the restructuring exercise and today we are a debt-free company. The accumulated losses have also been reduced from Rs. 17.49 crore in 2004 to Rs. 1.11 crore."

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