Info-tech

Infotech profits grow 63% in second quarter

Our Bureau Hyderabad | Updated on March 12, 2018 Published on October 17, 2012




Infotech Enterprises Ltd has reported a net profit of Rs 50.3 crore for the second quarter ended September 30, 2012, a growth of 63 per cent over Rs 30.74 crore in the comparative quarter of last fiscal.

On a consolidated basis the total income for the quarter was Rs 477.1 crore (Rs 372.60 crore), an increase of 28.1 percent over the comparative quarter.

The Chairman and Managing Director, B.V.R. Mohan Reddy said “Our business in Europe has grown this quarter and is a sign that we are seeing stability in our business in spite of the macro-economic challenges.

“After several quarters all our four business units have grown this quarter”.

The cash balances, including liquid investments stood at Rs 471 crore and the capex for the quarter was at Rs 17 crore.

The company’s global manpower has exceeded 10,000. The net addition of 759 in the first-half is also the highest number in any six-month period, the company said in a press release.

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Published on October 17, 2012
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