Infotech total income past Rs 500 crores
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.
UNI