The Hindu Business Line : Infotech’s Q3 profit at Rs 20 cr

Hyderabad, Jan. 16 Infotech Enterprises has recorded sales of Rs 176.85 crore and a profit of Rs 20.05 crore for the third quarter ended December 31, 2007 as against sales of Rs 143.04 crore and profit of Rs 20 crore for corresponding quarter last fiscal.

With this, the company’s revenue crossed Rs 500 crore in the first nine months this fiscal.

Commenting on the company performance, the Chairman and Managing Director of Infotech, Mr B.V.R. Mohan Reddy, in a statement said the performance was based on momentum across business operations and the initiatives undertaken over the years.

During the quarter, the company registered sequential growth of 11 per cent and 39 per cent year-on-year in revenue in dollar terms.

Operating margins have been maintained at 18.1 per cent despite exchange fluctuations.

During the quarter, Infotech has been selected as Framework supplier for a UK project and the company has been listed among 200 ‘Best under a $billion’ in Forbes Asia.

Diverse portfolio

The company maintained that its diversified portfolio, both in currencies and geographies, makes it believe that the operating margins are not likely to be impacted any further, barring dramatic currency movement.

Providing business highlights, Infotech said the company won two multi-million dollar upgrades and migration projects from telecom clients.

The company added 469 associates (total headcount of 6,800 plus) and opened a new facility in Electronics City, Bangalore.

Their I-Bridge initiative for global rollout of SAP is completed.

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