SQL Star Third Quarter Revenue up 51% (Q3-on-Q3) PAT increases by 56%

Company Brief

Mumbai, January 25, 2008

Global IT Services Enterprise - SQL Star International Limited – today announced a steady growth in revenues for the third quarter ended December 31, 2007 at its Board Meeting held at Hyderabad today.

Financial Highlights

A. For the Quarter ended December 31, 2007

For SQL Star International Ltd., on a Worldwide Consolidated Basis Profit After Tax (PAT) stood at Rs 159.80 lacs as against Rs. 102.51 lacs for the same quarter of the previous year. This represents a growth of 56%. The Company also witnessed an impressive growth of 51% in its revenues. For the Quarter ended December 31, 2007, revenues stood at Rs. 2647.02 Lacs as against Rs. 1750.06 Lacs for the same quarter of the previous year.

For SQL Star International Ltd., (Standalone) the PAT stood at Rs 73.44 Lacs as against Rs 43.87lacs for the same quarter of the previous year. The revenues for SQL Star International Ltd., (Standalone) stood at Rs 1337.14 lacs as against the Rs 999.73 lacs for the same quarter of the previous year. This marks a growth of 34% over the corresponding period.

B. For the 9 Months ended December 31, 2007

For the 9 months ended December 31, 2007, for SQL Star International Ltd., on a Worldwide Consolidated Basis Profit After Tax (PAT) stood at Rs 575.31 lacs as against Rs. 178.53 lacs. This represents a growth of 222%. The Company also witnessed an impressive growth of 49% in its revenues. In absolute terms, the revenues stood at Rs. 7740.00 Lacs as against Rs. 5177.94 Lacs.

For SQL Star International Ltd., (Standalone) the PAT stood at Rs 248.13 Lacs as against Rs 86.09 Lacs for the same quarter for the previous year – a growth of 188%. The revenues for SQL Star International Ltd., (Standalone) stood at Rs 3707.13 Lacs as against Rs 3217.72 Lacs. This marks a growth of 15% over the corresponding period.

Speaking at the board meeting, Mr NR Ganti, Chairman and Managing Director said, “In software services – our Embinux project (www.embinux.com) has delivered significant results in the form of tremendous market acceptance by large corporations in the telecom vertical across the globe. Further, the good monsoons have resulted in higher productivity in the agricultural sector bringing in larger volumes of agricultural produce to the markets; this has increased our revenues from the e-Governance vertical.”

Continuing its stellar performance of the previous quarter, this time too, the company has been successful in maintaining its upward swing. The company attributes its increase in revenues to its new product – Embinux and robust performance in its stronghold area – e-Governance.

For further information please contact:

Hanmer & Partners

Kalpana Chitre

Tel: +022-67524642

Mob: +022-67524642