Infotech records 38.1% YoY increase in PAT

Hyderabad, Oct 23 (UNI) The city-based Infotech Enterprises today announced that the company recorded Profit after Tax at Rs 349 million during the second quarter as compared to Rs 252.7 million for the corresponding period last year, registering an improvement of 38.1% Y-o-Y in rupee terms.

In a statement, company Chairman and Managing Director BVR Mohan Reddy said PAT saw an increase of 42.1% sequentially as PAT during first quarter of the year stood at Rs 245.6 million. The company earned Rs 2214.2 Millions as revenue for the quarter, registering a Q-o-Q growth of 10.4% from Rs 2006.1 million during first quarter and Y-o-Y growth of 37.5% from Rs 1610.8 million during the corresponding period last year.

In dollar terms, the company's revenue was reported at 50.6 million dollars, a YoY increase of 28.4% from 39.4 million dollars during the corresponding period previous year and a QoQ increase of 5.3% from 48.1 million dollars during the first quarter.

The PAT was eight million dollars during this quarter as compared to 6.2 million dollars during the corresponding period the previous year, recording an increase of 29%. There was a 35.5% increase in QoQ as the company had reported PAT at 5.9 million dollars during the previous quarter.

''The company has delivered a robust growth performance during the quarter under review. Revenues crossed Rs. 2.21 billion for the quarter. We also made a significant improvement of 220 basis points in our Operating Margins over the sequential quarter. Our North American and German subsidiaries have shown strong sustainable performance. In the first six months of the current financial year, all our wholly-owned subsidiaries and our associate have paid dividends,'' Mr Reddy said.

UNI VA VV SS1650