The Hindu Business Line : Aftek Infosys Q4 net rises 19 per cent

AFTEK Infosys registered a 19.34 per cent growth in net profit at Rs 13.4 crore for the fourth quarter ended June 30, 2004, compared to Rs 11.23 crore in the corresponding quarter last year. The Mumbai-based IT solutions firm recorded revenues of Rs 36.7 crore, a 41.6 per cent growth, against Rs 25.9 crore in the corresponding quarter the previous year.

Aftek showed a 30.42 per cent jump in net profit to Rs 52.43 crore for its financial year ended June 30, 2004 compared to Rs 40.20 crore posted last year. Its net revenues for the year went up 44.32 per cent to Rs 138.96 crore (Rs 96.28 crore) with other income for the year at Rs 1.71 crore. Total income for fiscal 2003-04 (July-June) at Rs 140.6 crore showed a growth of 41.5 per cent, up from Rs 99.35 crore.

Having acquired Seekport (indirectly) through Arexera Information Technologies, in which Aftek holds a 49 per cent stake with a firm understanding to acquire the remaining 51 per cent, the Indian firm is now looking at enhancing its presence in the search engine business.

"With the search engine business offering exciting possibilities we plan to concentrate on the European market by focusing on Great Britain and France after German speaking countries," Mr Promod Broota, Director, Aftek Infosys, was quoted as saying in a company release.

The German entity Arexera Information Technologies GmbH along with its employees acquired 56 per cent stake in Seekport Internet Technologies. Seekport is the new avatar of erstwhile European search major Infoseek. It has tied up with paid placement service Espotting to process the latter's search request. Espotting drives traffic to over 22,700 advertisers across Europe and generates 1.4 billion monthly search queries.

During the year, Aftek also forayed into the African market by implementing ticketing solution for Mauritius transport companies and spot billing solutions for water and electricity authorities of Seychelles.

In Seychelles, Aftek has also provided meter reading instrument (MRI) to the Public Utilities Corporation (PUC), the electricity and water authority of the country.

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