Virinchi Tech Q2 net up

Hyderabad, Oct 26 (UNI)Virinchi Technologies Limited, an IT products and services provider focusing on retail micro lending, supply chain solution and enterprise business solutions domains, today declared its second quarter results for the financial year 2006-07.

The total revenues for the second quarter stood at Rs 80.15 million as against Rs 61.75 million in the second quarter of financial year 2005-06 showing a growth of 29.79 per cent. The company also recorded a sequential growth of 7.89 per cent in total revenues in comparison to the last quarter.

With an increase on income the company also recorded a significant increase in the net profit for the second quarter which stood at Rs 27.97 million as against Rs 20.61 million for the same period last year, recording a growth of 35.68 per cent.

The company's second quarter net profit for 2006-07 is up by Rs 7.36 million as compared to the same quarter last year, it said in a press release.

The total revenues for the first half year 2006-07 stood at Rs 154.44 million as against Rs 122.15 million for the same period in 2005-06. The company also recorded a significant increase in the net profit during the first half of 2006-07, which stood at Rs 54.46 million as compared to Rs 40.09 million for the first half of the year 2005-06 recording an increase of 35.84 per cent, the release added.

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