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Mumbai Jan 19 i-flex on Friday reported 130.7 per cent rise in consolidated net profit to Rs 111.2 crore for the third quarter ended December 2006, against Rs 48.2 crore a year ago.

Revenues stood at Rs 557.4 crore, growing by 43.6 per cent from Rs 388 crore earlier.

On a standalone basis the company's net profit spiralled up 57.1 per cent to Rs 91.05 crore (Rs 57.94 crore), while net revenues rose by 33 per cent to Rs 395.5 crore (Rs 297.4 crore).

Profit and revenues growth were driven by robust growth in the products business.

"The company's flagship product, flexcube, added 11 new relationships that took its customer count to 304.

The company derived 16 clients from Mantas, which it had acquired in August 2006, said Mr Padalkar.

The net profit for the nine months ended December 2006 stood at Rs 239.1 crore (Rs 107.4 crore), up 122.6 per cent.

The i-flex stock fell by 0.68 per cent on the BSE today to close at Rs 2,089.60.

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