Financial Daily from THE HINDU group of publications
Wednesday, Jun 14, 2006
Financial Daily from THE HINDU group of publications Wednesday, Jun 14, 2006 |
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Info-Tech
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Financial Performance Corporate Results - ISPs IP/VPN biz lifts Tulip net up 265% Our Bureau
PROFIT SURGE: Lt. Col. H. S. Bedi (right), MD, Tulip II Services, and Mr Deepender Bedi, Director, at a press conference in the Capital on Tuesday. - Ramesh Sharma
New Delhi , June 13 Tulip IT Services Ltd, provider of end-to-end data connectivity, on Tuesday reported a 265 per cent jump in its net profit to Rs 48.8 crore for the financial year ended March 31,against Rs 13.91 crore for the same period last year. The company's turnover stood at Rs 508.17 crore, a 49 per cent increase from Rs 342.20 crore last year, and the board of directors has recommended a dividend of 10 per cent. ``The 265 per cent growth in our net profits has come mainly from Tulip Connect's Internet Protocol Virtual Private Network (IP/VPN) business, and it is this section which will primarily see a substantial growth in the future as well,'' Tulip IT Services Ltd Managing Director, Mr H. S. Bedi, said. ``At present we have expanded to 540 cities from 350 cities in March, with aninvestment of Rs 180 crore, and we are looking at expanding this network further to 800 cities,'' Mr Bedi added.
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