The Hindu Business Line : Infotech revenue hits Rs 500 cr; net up 66%

Hyderabad April 18 Continued buoyancy in geospatial and engineering services has taken Infotech Enterprises Ltd's revenues past the Rs 500-crore mark (Rs 549 crore) during 2006-2007. The company indicated at adding 1,500 people in 2007-2008 to sustain similar levels of business growth.

During 2006-2007, revenue was up 49.7 per cent and net profit up by 66 per cent.

The company recorded total income of Rs 153.07 crore and a net profit of Rs 20.17 crore for the fourth quarter ended March 31, 2007, against total income of Rs 109.20 crore and a net profit of Rs 12.25 crore for the corresponding quarter last year.

For the year ended March 31, 2007, the company recorded revenues of Rs 549.26 crore with a net profit of Rs 74.41 crore against revenues of Rs 365.85 crore and a net profit of Rs 40.25 crore for the previous fiscal.

The Chairman and Managing Director, Infotech, Mr B.V.R. Mohan Reddy, said, "We are entering the financial year 2008 with renewed confidence and on the backdrop of growing demand for the services we offer in geospatial and engineering services. This is based on new client wins, current pipeline and ramp-up of business from existing clients."

New campus, clients

Addressing a press conference, Mr Reddy said they commissioned a new campus near here located in a 10-acre site and plan to invest about Rs 76 crore in capital expenditure during the year. This will cover expansion of facilities in Bangalore and Noida.

The company added 31 clients and 1,153 employees during the year taking its headcount past the 5,000-mark and expects this number to go up to 6,500 by the fiscal end.

The company has added centres at Kakinada in Andhra Pradesh, Sydney (Australia) and Auckland (New Zealand).

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