Ace Software Exports Limited
Regd. Office : 801, "Everest" Opp. Shashtri Maidan, Rajkot - 360 001
Unaudited Financial Results for the Quarter ended 30th June, 2004
				(Rs. In Lacs)
Sr.	Particular	Quarter Ended	Quarter Ended	Year Ended
No.		30-06-2004	30-06-2003	31-03-2004
		(Unaudited)	(Unaudited)	(Audited)
1	Income From Operations	144.73	103.71	436.39
2	Other Income	10.85	6.38	76.55
3	Total Expenditure
	(A) (Increase)/Decrease in Stock	19.71	10.01	(2.24)
	(B) Contract Charges	30.69	17.31	97.44
	(C) Software Charges	40.18	27.72	133.71
	(D) Staff Cost	9.58	7.12	50.93
	(E) Other Expenditure	25.95	27.25	107.87
4	Interest	0.00	0.00	0.00
5	Depreciation & other w/off	13.69	12.67	51.92
6	Profit Before Tax	15.78	8.01	73.31
7	Provision For Taxation *
	- Current	0.00	0.00	0.55
	- Deffered	0.00	0.00	3.65
8	Net Profit After Tax	15.78	8.01	69.11
9	Paid up Equity Share Capital	523.27	570.00	541.18
	(Face Value per Share in Rs.)	10.00	10.00	10.00
10	Reserves Excluding Revaluation
	Reserves			533.62
11	Basic & Diluted EPS for the	0.30	0.14	1.28
	Period (Not Annualised)
12	Segment Capital Employed	1080.54	1071.51	1074.80
13	Aggregate of non-promoter
	share holding
	(a) No. of Shares	2,495,920	2,968,075	2,692,444
	(b) Percentage of shareholding	47.70%	52.07%	49.57%
Notes :
(1) The above results have been reviewed by the Audit Committee and thereafter approved by the
Board of Directors on their meeting held on  July 30, 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) The Company has commenced Buy-Back of shares from 13th October, 2003 and has extinguished
467255 Equity Shares. Hence, the company's paid-up capital at the Quarter ended on
30th June, 2004 has been reduced to 523.27 Lacs.
(5 ) There was no investor complaint pending at the beginning of the Quarter. 5 Complaints were
received during the Quarter and were duly attended to.
(6)  The Statutory Auditors of the company have carried out a Limited Review of the Accounts for the
Quarter ended on 30th June, 2004
* Provision for tax, if any, shall be made at the year end.
Place : Rajkot			Vikram B. Sanghani
Date   : 30-07-2004			Jt. Managing Director