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Our Bureau

Hyderabad, Oct. 17 Infotech Enterprises Ltd has recorded a total income of Rs 171.99 crore and a profit of Rs 23 crore for the second quarter ended September 30, 2007 against a total income of Rs 131.8 crore and a profit of Rs 17.26 crore for the corresponding quarter last year.

Last fiscal ended March 31, 2007, the company recorded a total income of Rs 549.26 crore and a profit of Rs 74.41 crore.

The Chairman and Managing Director, Mr B.V.R. Mohan Reddy, said that the company’s robust performance is mainly due to strong momentum across business operations and initiatives undertaken over the years.

During the quarter, Infotech entered into partnerships with Continental Data Graphics (CDG), a subsidiary of The Boeing Company.

In a statement, Mr Reddy said that the margins are not likely to be impacted significantly due to exposure to various currencies.

The company added 768 associates and 10 new customers and the overall headcount is now at 6,300.

In Q2, Infotech allotted 44.17 lakh shares of Rs 5 each at a premium of Rs 355 and 27.24 lakh compulsorily convertible preference shares to GA Global Investment Ltd, Cyprus.

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