Infotech Enterprises registers net profit of Rs 19.75 crore

Hyderabad, July 19 (UNI) IT solutions provider Infotech Enterprises Limited today announced an operating revenue of Rs 117 crore, registering a growth of 50 per cent over quarter 1, FY 2005-06 and a net profit of Rs 19.75 crore in Q1 this year.

A company release here today said the increase of revenue was on account of both volume growth as well as increased rates from customers.

Infotech Enterprises Chairman and Managing Director B V R Mohan Reddy said in the release the quarter had marked the beginning of another fruitful year for Infotech. During the quarter, the Company witnessed growth from customers -- Pratt&Whitney and Bombardier Transportation -- and from new customers of last year -- Alstom Transport, Hamilton Substrand and others.

We forecast a strong traction in our business for the rest of the year based on the backlog and pipeline. To cater to the new infrastructure needs, we started building another new facility in a 10-acre campus in Hyderabad, he added.

UNI DB AJ 2041