Tera Software Limited , a company specializing in IT solutions, has announced a significant business development that promises to boost its project portfolio and revenue stream. The company has been awarded a substantial contract worth ₹58.12 crore by the West Bengal State Electricity Distribution Company Limited (WBSEDCL) for implementing a spot billing system across multiple zones in West Bengal.

Contract Details

The project, which spans over three years, involves the implementation of spot billing for medium and low voltage domestic and commercial consumers under the billing system. This system will cater to consumers with connected loads below 50 KVA within WBSEDCL's jurisdiction across various zones in West Bengal.

Zone-wise Breakdown

The contract is divided among different zones, with specific allocations as follows:

Project Scope

The spot billing system is designed to enhance the efficiency of electricity billing processes for WBSEDCL. It will cover a wide range of consumers, potentially improving billing accuracy and customer service across the state.

Company's Disclosure

Tera Software Limited made this announcement in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received multiple Letters of Award (LOAs) from WBSEDCL, collectively amounting to the total contract value of ₹58.12 crore.

Implications for Tera Software

This contract represents a significant opportunity for Tera Software to strengthen its position in the utility sector and showcase its IT capabilities in large-scale billing systems. The multi-year nature of the project also provides the company with a steady stream of revenue over the next three years.

The successful implementation of this project could potentially open doors for similar contracts in other states or with other utility companies, further enhancing Tera Software's market presence in the IT solutions space for the utility sector.

As the project unfolds, stakeholders will likely keep a close eye on Tera Software's execution capabilities and the impact of this contract on the company's financial performance in the coming quarters.

Tera Software Limited , a leading IT solutions provider, has announced its financial results for the first quarter, showcasing strong performance across its business segments.

Financial Highlights

The company reported robust financial results on a standalone basis:

On a consolidated basis, Tera Software achieved a net profit of Rs 2.99 crore for the quarter.

Segment-wise Performance

Tera Software operates through three key segments, each contributing significantly to the company's revenue:

1. Integrated Solutions Division: Rs 16.32 crore
2. Technical Division: Rs 16.42 crore
3. Projects Division: Rs 3.24 crore

Dividend Declaration

In a move that will please shareholders, the Board of Directors has declared a final dividend of Rs 1 per share. This decision underscores the company's commitment to delivering value to its investors.

Annual General Meeting

The company has scheduled its Annual General Meeting (AGM) for September 26. Shareholders can expect to receive further details in the upcoming AGM notice.

Management Commentary

The Board of Directors expressed satisfaction with the company's performance, highlighting the balanced growth across all business segments. They emphasized the company's focus on delivering innovative IT solutions and maintaining a strong financial position.

About Tera Software Limited

Tera Software Limited is a renowned player in the IT solutions sector, offering a wide range of services through its three distinct divisions. The company's paid-up equity share capital stands at Rs 12.51 crore, with shares having a face value of Rs 10 each.