The Hindu Business Line : i-flex clocks 19% rise in Q4 net

Mumbai May 1 i-flex Solutions said its consolidated fourth quarter net profit amounted to Rs 132 crore, 19 per cent higher over the corresponding previous period.

Revenues at Rs 601 crore (Rs 470.6 crore) were 28 per cent higher.

The growth momentum was strong for all lines of business. Thirty new customers were added during the quarter, taking the customer count to 753, said a statement.

Net profit for the fiscal rose 50 per cent to Rs 372.3 crore, while revenues rose 39 per cent to Rs 2,061 crore.

Annual product revenues posted 47 per cent increase, while the services business recorded 29 per cent growth.

The tank size stood at $82.5 million - the highest level reached till date — registering a 12 per cent quarter-on-quarter and 27 per cent year-on-year increase, as a result of strong licence fee signings, the company said.

Net employee additions in the quarter were 522. As on March 31, the software and services business employed 8,034 (6,315) and the KPO business 1,034 (543).

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