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Bangalore , Dec. 29

SOFTWARE service firm Netkraft Pvt Ltd, which had slipped in the red following the global technology meltdown, has turned profitable, tracking operations restructuring.

According to Mr Anand Sudarshan, CEO, Netkraft, "We turned profitable recently and are on track of achieving the targeted revenues between $8.5 million and $10 million for the current fiscal."

The company is looking at a growth of 60 per cent-plus over last year's revenues of $5.5 million. For the next fiscal, the company expected to sustain a growth momentum at a rate of 50-60 per cent, he added.

Netkraft, which has sharpened its focus on two verticals — retail and healthcare, has signed up 10 new clients in the first three quarters of the year. "We have a healthy pipeline and expect to sign a few more deals by March," Mr Sudarshan said.

"The US market is looking good," he said, adding that the company was seeing good traction in that market. However, the European market, especially in the retail segment, was looking flat, he said.

Netkraft derives about 50 per cent of its revenues from its retail practice and the rest from healthcare and technology solutions business. "We expect a marginal upside in revenues from healthcare next year as that segment is booming in the US," he added.

The company has added about 90 people during the nine months at an average of 10 a month and expects to add another 40 over the next quarter. Netkraft currently has a headcount of close to 300 people. CDC Capital Partners and JumpStartup Venture, the two major investors, own about 67 per cent of the equity in Netkraft.

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