Hyderabad, Apr 21: Infotech Enterprises today announced that it earned Rs 1874 million in revenue in the fourth quarter, registering a six per cent sequential growth while it garnered a revenue of Rs 6,741.3 millions for the year ending March 31, 2008, a Year-Over-Year (YoY) growth of 24.3 per cent in rupee terms.
In a statement here, company Chairman and Managing Director BVR Mohan Reddy said revenue was recorded at Dollar 167.5 million, recording a YoY growth of 40 per cent. The operating profits were registered at 18.2 per cent for the quarter and 18.1 per cent for the year while Profit Before Tax (PBT) crossed Rs 100 crore for the financial year. In rupee terms, net profit was recorded at Rs 259.3 million for the quarter, a YoY growth of 4.1 per cent and sequential growth of 3.98 per cent.
Mr Reddy said''The company has delivered a robust growth performance during the quarter and year under review. Profit before tax crossed Rs 100 crore for the financial year. Our German and United States subsidiaries have growth rates in excess of 42 per cent and 36 per cent respectively." He said the company's Asia Pacific, India and Middle East contributed to around ten per cent of total revenue. The company's operating margins in currencies and geographics would not be impacted any futher, he added.
He said "Manufacturing, Utilities and Telecommunications, our key verticals continue to be robust in growth and do not show any signs of slowdown. Our engineering services business generated revenue of about US Dollar 100 million for the first time in the history of the company." The company would continue to deliver a significant growth on the back of increased order intake and high visibility of business in both the verticals, he added.
Mr Reddy said the company's staff strength had grown to over 7000 by March 31, 2008. By inducting some key leaders into the company in the areas of Sales and Marketing, Practice Management and Operations, the company would aim for sustained growth rates, despite an increase in base, he added.