Infotech total income past Rs 500 crores

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Hyderabad, Jan 16: Infotech Enterprises Limited today announced a robust 11 per cent sequential growth and 39.6 per cent Y-o-Y growth in operating revenues in dollar terms for the quarter ending December 31, 2007 to 43.8 million US Dollar even as its total income crossed the Rs 500 crore threshold.

Addressing the media after a board meeting here, Infotech Enterprises Chairman and Managing Director B V R Mohan Reddy said the company delivered robust growth performance during the quarter under review due to its strong momentum across its business operations and the initiatives undertaken over the years.

''I am delighted to bring to your attention the Total Income in the first nine months of this fiscal has crossed Rs 500 crore threshold,'' he said.

The company recorded Operating Revenue of 43.8 million US Dollar in the quarter as against the 31.4 US million USD in the corresponding period last year, recording growth of 39.6 per cent.

The operating revenue in the last quarter was 39.4 million USD.

The operating profit in this quarter was 7.9 million USD (7.1 million USD). Profit after tax stood at 5.3 million USD (4.1 million USD).

Operating margin has been maintained at 18.1 per cent despite (foreign) exchange fluctuations, he said.

''The growth we witnessed in our business this quarter is broad based. Both UTG and EMI segments have witnessed sequential growth of 20 per cent and seven per cent respectively in dollar terms.

''During the quarter, we have been selected as framework supplier by OGC/Catalist for UK Government work. We have figured among the 200 Best under a Billion Dollar as listed in the Forbes Asia recent issue...going forward, we expect to continue to deliver significant growth on the back of increased order intake which is quite strong and visible in both the verticals,'' he added.


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