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Mumbai, July 25 IT services firm 3i Infotech has reported a 44.1 per cent rise in net profit for the first quarter ended June 30, 2008. The company’s net profit was Rs 58.10 crore as against Rs 40.3 crore recorded in the same quarter last year.

Revenue was up by 78.5 per cent to Rs 471.62 (Rs 264.2 crore). The company has amended its segment reporting to separately report the revenues and profits from Transaction Services business, which now constitutes around 22 per cent of its total revenues, according to a news release issued here on Thursday.

The company continues to maintain a mix of 1:1 between software products and IT services.

Reacting to the development, the 3i Infotech scrip hit an intra day high of Rs 109.2, before settling at Rs 106.9, 8.25 per cent higher than the previous days close on the Bombay Stock Exchange.

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