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Our Bureau

Hyderabad May 28 Northgate Technologies Ltd, a Hyderabad-based technology and internet telephony services provider, has rewarded its shareholders with one is to one bonus and 40 per cent dividend.

The company recorded consolidated revenues of Rs 294.57 crore with a net profit of Rs 57.41 crore for the financial year ended March 31, 2007 as against total income of Rs 105.94 crore with a net profit of Rs 23.22 crore for the previous fiscal.

For the fourth quarter ended March 31, 2007, the company's consolidated revenue was Rs 102.02 crore with a net profit of Rs. 17.70 crore. There is no comparable figure for last year as this was consolidated only this year.

The consolidated revenues of Northgate reflects results of Axill Inc, USA, Globe7 Inc, Axill Europe Inc, Globe7 Hongkong.

According to a statement from the CMD of Northgate, Mr Venkat S. Meenavalli, Globe7 Hongkong Ltd has launched wireless internet phone and memory storage phone in April 2007.

Globe7 Internet phone has over 3 million users across 180 countries and generates about 2 billion impressions per month.

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