Mumbai: Aztecsoft Ltd has declared results for the July-Sept quarter.

The Software company has registered a 39.5 percent fall in consolidated net profit for the three months period ended September 30, 2007 chiefly due to the rupee admiration.

Chief Financial Officer V. Sundarajan told, “We took a substantial hit due to the exchange rate as around 85 percent of our revenues are offshore.”

The company has recorded a net profit of Rs 69.3 million on revenues of 620.1 million rupees for the same period.

“We have been hit more than some of the others by the rupee appreciation since all our expenses are in rupees while revenues are in dollars,” Mr. Sundarajan added.

The company is planning to raise onsite revenues from 15 percent to 30 percent by the end of the current fiscal year, he said.

The company has added nine new customers during the three month period that takes its total active customer-base to 89, whereas the number of workers stood at 2,135 at the end of the quarter.

Sundarajan said that Aztec anticipates having 2,500 employees on its rolls by the end of the recent year (2007).

Two new plants are likely to start functioning this year.