Mumbai, Jan 18 :     Pentafour Software & Exports today announced a 48 per cent increase in its third-quarter net profit at Rs 35.1 crore from Rs 24.11 crore in the same period of 1998-99. The company has now been renamed PentaMedia Graphics. The Chennai-based firm has declared that it will now fine-tune its operations in the core areas of films/broadcasting, video, CD/DVD and Internet entertainment. For the quarter ended December 30, turnover stood at Rs 106 crore, up 46 per cent from Rs 72.6 crore at the end of December 1998 while turnover for the nine-month period rose to Rs 283 crore from Rs 182 crore over the same period. The company's net profit for the nine-month period jumped 69 per cent to Rs 83 crore as against Rs 49 crore in the corresponding period of the last financial year. Gross profits for the third quarter was Rs 50 crore, up from Rs 29 crore. For the nine-month period, the gross profits were pegged at Rs 127 crore compared with Rs 68 crore, indicating an increase of 86 per cent. Investors were, apparently, not happy with the company's performance in the third quarter. This resulted in the scrip slipping to an intra-day low of Rs 1150 after it opened at Rs 1190. The share shot up to an intra-day high of Rs 1,224 but finally closed marginally lower at Rs 1,185. The software technology park near Chennai will now be an exclusive entity for the development of multimedia content and services, it said. Multimedia operations will be carried out from India while the company will continue with its front-ending offices in Hollywood, Singapore, Manila and London. PentaMedia also announced a few changes in its top management. S Ranganathan, chief finance officer, has been promoted as the finance director. V S Sunderrajan, director on board PentaMedia Graphics, will now spearhead the company's US operations. The company had secured shareholders' approval for its plan to hive off the business software segment as an on-going concern to Pentafour Communications at the January 6 extra-ordinary general meeting. The areas demerged include on-shore and off-shore products, transfer of human resources associated with software, brand value, assets and compensation for non-compete and non-marketing agreement in the provision of existing software services.