Ace Software Exports Limited
Regd. Office : 801, Everest, Opp. Shastri Maidan, Rajkot - 360 001
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER, 2004
										(Rs. In Lacs)
Sr.	Particulars	Quarter	Quarter Ended	Quarter	Half Year	Half Year	Nine Months	Half year	Nine Months	Year Ended
No.		Ended	30-06-2002	Ended	Ended	Ended	Ended	Ended	Ended	31-03-2004
		30-09-2004	(Unaudited)	30-09-2003	30-09-2004	30-09-2003	31-12-2001	30-9-2001	31-12-2000	(Audited)
1	Income From Operations	151.22	75.60	115.89	295.95	219.60				436.39
2	Other Income	7.29	17.72	16.96	18.14	23.34				76.55
3	Total Expenditure
	(A) (Increase)/Decrease in Stock	(1.14)	(6.06)	(4.09)	18.57	5.92				(2.24)
	(B) Contract Charges	33.75	14.06	27.91	64.44	45.22				97.44
	(C) Software Charges	40.84	33.13	33.32	81.02	61.04				133.71
	(D) Staff Cost	10.36	8.03	8.45	19.94	15.57				50.93
	(E) Other Expenditure	28.68	24.50	25.08	54.63	52.33				107.87
4	Interest	0.00	0.00	0.00	0.00	0.00				0.00
5	Depreciation & other w/off	14.30	12.33	12.93	27.99	25.60				51.92
6	Profit Before Tax	31.72	7.33	29.25	47.50	37.26				73.31
7	Provision For Taxation
	- Current	0.00	0.00*	0.00	0.00	0.00	0.00*	0.00*	0.00*	0.55
	- Deffered	0.00	0.00	0.00	0.00	0.00				3.65
8	Net Profit After Tax	31.72	7.33	29.25	47.50	37.26				69.11
9	Paid up Equity Share Capital	512.17	500.00	570.00	512.17	570.00	#REF!	#REF!	#REF!	541.18
	(Face Value per Share in Rs.)	10.00	10.00	10.00	10.00	10.00	#REF!	#REF!	#REF!	10.00
10	Reserves Excluding Revaluation
	Reserves									533.62
11	Basic & Diluted EPS for the	0.62	0.15	0.51	0.93	0.65	#REF!	#REF!	#REF!	1.28
	Period (Not Annualised)
12	Segment Capital Employed	1094.61	939.76	1092.75	1094.61	1092.75				1074.80
13	Aggregate of non-promoter
	share holding
	(a) No. of Shares	2385001	2995455	2961075	2385001	2961075				2,692,444
	(b) Percentage of shareholding	46.57%	59.91%	51.95%	46.57%	51.95%				49.57%
	Notes :
	(1) The above results were reviewed by the Audit Committee and thereafter approved and taken on record
	at the meeting of the Board of Directors held on October 28, 2004.
	(2) The above figures have been regrouped, rearranged wherever necessary.
	(3) The Company's operations fall under Principal Business Segment  namely " Computer Software and
	Services Exports "
	(4) Appropriate provision for taxation shall be made at the year end.
	(5) The company had commenced Buy-Back of Shares from 13th October, 2003 and same was concluded on
	24th August, 2004. The company has extinguished 578274 Equity Shares, hence the company's Paid-up
	Capital has been reduced to 512.17 Lacs.
	(6) The Statutory Auditors of the Company have carried out a limited review of the accounts for the three
	months ended September 30th, 2004
	(7) There were no Investor Complaints pending at the beginning of the quarter.  2 Complaints were
	received during the quarter and were duly attended to.
	Place : Rajkot					Sanjay H. Dhamsania
	Date   : 28-10-2004					Jt. Managing Director