i-flex Solutions Q3 net rise to Rs 91 crore

Mumbai, Jan 19: i-flex Solutions Ltd has posted a net profit of Rs 91.05 crore for the quarter ended December 31, 2006 as compared to Rs 57.95 crore for the quarter ended December 31, 2005.

Announcing the results, the company said its total revenue has increased from Rs 297.47 crore for the quarter ended December 31, 2005 to Rs 395.56 crore for the quarter ended December 31, 2006.

The Consolidated Results as per Indian GAAP shows that the Group has posted a net income of Rs 111.2 crore for the quarter ended December 31, 2006 as compared to Rs 48.2 crore for the quarter ended December 31, 2005. Revenues has increased from Rs 388.0 crore for the quarter ended December 31, 2005 to Rs 557.4 crore for the quarter ended December 31, 2006.

The Consolidated Results as per US GAAP maintain that the Group has posted a net income of Rs 77.3 crore for the quarter ended December 31, 2006 as compared to Rs 55.9 crore for the quarter ended December 31, 2005. Revenues has increased from Rs 396.5 crore for the quarter ended December 31, 2005 to Rs 550.2 crore for the quarter ended December 31, 2006.

Speaking on the occasion, Mr Rajesh Hukku, Chairman&Managing Director said, ''We are witnessing a significant mindset change in the global financial industry with greater attention to the state of ageing core systems. The combined Oracle/i-flex force is already making a difference in winning several top tier names as customers.''

UNI