STG Third Quarter 2001 Net Profit Surges 373%

Total sales zoom 146% to Rs. 1696.83 lacs

New Delhi, India - (January 31, 2001) STG today announced substantially higher earnings and sales figures for the third quarter ending December 2000. The company registered a jump of 373% in Net Profit at Rs. 220.73 lacs from Rs. 46.68 lacs and 154% in profit before tax at Rs. 270.73 lacs from Rs. 106.68 lacs for the quarter ended December 31, 2000 compared with the corresponding quarter of the previous financial year. Net sales were higher by 146% at Rs. 1696.83 lacs, compared to the previous period Rs. 691.15 lacs.

The Company attributes its exceptional growth to remarkable progress made in the areas of its core competency - emerging technologies. The company also consolidated its leadership on the domestic front and also made major forays into the international market. "Greater emphasis was also laid on maintaining rigorous standards of quality, both in products and services. Major expansions internationally and fresh thrust in the domestic market has resulted in this quantum growth that has surpassed all expectations as well as boundaries," said Dr. Suresh Nanda, CEO, STG International.

STG plans major expansions of its software development and education operations in South East Asia and Africa.

About STG

STG, an ISO 9001 company, is a leading IT services organization, focusing on providing advanced software education, corporate training, and e-business solutions. Since its inception in 1993, STG has grown and gained a national presence with over 300 centers spread across 7 countries. It focuses on advanced software training and has trained and upgraded the skill sets of over 150,000 software professionals to world standards. STG has alliances with global technology leaders like Oracle, Microsoft, IBM, Sun Microsystems, and Lotus. Its courses are also recognized by the American Council on Education for credit recommendations at over 1,100 colleges and universities in the US.