Financial Daily from THE HINDU group of publications
Thursday, Oct 20, 2005
Financial Daily from THE HINDU group of publications Thursday, Oct 20, 2005 |
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Corporate Results
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Software Info-Tech - Financial Performance Infotech Enterprises Q2 revenue, net up Our Bureau
Hyderabad , Oct. 19 INFOTECH Enterprises Ltd has recorded a total income of Rs 82.39 crore and a net profit of Rs 9.66 crore for the quarter ended September 30, 2005 against Rs 68.43 crore and Rs 6.60 crore, respectively, in the corresponding quarter last year. This reflects a growth of 20.4 per cent in revenues year-on-year and 46.4 per cent in net profit. Sequentially, operating revenues were higher by 5.3 per cent and net profit by 11.7 per cent. During the last financial year ended March 31, 2005, the company's revenues stood at Rs 257.13 crore with net profit at Rs 24.91 crore. The Chairman and Managing Director of Infotech, Mr B. V. R. Mohan Reddy, in a statement said, "During the quarter we achieved improvement in profitability, and operating margins were higher by 200 basis points compared to the preceding quarter. During the quarter, we won several major contracts, including a five-year engineering design agreement with Alstom Transport and a contract from the Dutch telecom service provider, KPN Telecom." During the quarter, Infotech's dedicated centre of excellence, delivering engineering services for Hamilton Sunderstand, expanded to 75 people. The company established a new US office at Rockford, Illinois, to focus on technical publications. Mr Paul Adams has been inducted to the board in the place of Mr Charles W. Ayer, representing Pratt & Whitney. During the quarter, 11 new clients were added. On a day of volatile trading, Infotech shares lost around Rs 14 to close at Rs 394.55 from Rs 408.40 on Tuesday on the National Stock Exchange.
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