Profit and Loss account

For the year ended December 31,	Schedule	2010	2009
Income from software services		11,62,45,436	7,61,76,643
Software development expenses	8	10,11,03,591	6,72,41,892
GROSS PROFIT		1,51,41,845	89,34,751
Selling and marketing expenses	9	14,150	–
General and administration expenses	10	95,92,198	53,53,089
		96,06,348	53,53,089
OPERATING PROFIT BEFORE INTEREST		55,35,497	35,81,662
Interest		–	–
OPERATING PROFIT BEFORE TAX		55,35,497	35,81,662
Other income, net	11	(35,637)	(2,10,136)
NET PROFIT BEFORE TAX		54,99,860	33,71,525
Provision for taxation	12	15,39,960	9,47,585
NET PROFIT AFTER TAX		39,59,900	24,23,940
EARNING PER SHARE
Equity shares of par value SEK 100 each
Basic		3,959.90	2,424
Number of shares used in computing basic earnings per share		1,000	1,000
SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS	13

Note : The schedules referred to above are an integral part of the Profit and Loss account.

For Shenoy & Kamath
Chartered Accountants
Firms Regn. No. 006673S

M. Rathnakar Kamath Partner Membership No: 202841	S. D. Shibulal Chairman	B. G. Srinivas Director

Bangalore January 7, 2011	Eric Stephen Paternoster Director	Rajesh Krishnamurthy Director