Infotech Enterprises Q4 net up 29% to Rs 70 crore

Infotech Enterprises, a city-based engineering solutions provider, today said its net profit for the fourth quarter ended March 31 grew 29 per cent to Rs 70 crore, from Rs 54 crore in the same period of last year.

Total income from operations grew 28 per cent to Rs 595 crore during the quarter under review from Rs 464 crore in the January–March quarter of last fiscal.

B V R Mohan Reddy, Chairman, Infotech, said business momentum picked up in the second half of just-concluded fiscal and the firm expects it to to continue in the current financial year also.

"The business momentum picked up considerably in the second half of last financial year (FY14), reflected in Q-o-Q growth for the last two quarters. The backlog and order pipeline are very healthy. We are very confident that this momentum will continue during the current financial year (FY 15)," Reddy said in a statement.

The company will focus on operating levers such as utilisation, sales efficiency and management overhead to improve operating margins in FY15, he said.

"Considerable amount of effort and money has been invested in branding, reorganisation and sales compensation restructuring. All three initiatives will lead to accelerated growth and better efficiency. The impact of these steps will be seen in the second half of the current fiscal."

Net profit for the full year (FY14) grew by 15 per cent to Rs 266 crore, while revenues were up by 18 per cent to Rs 2206 crore.

The IT company, through its subsidiary IEAI, is expected to complete the acquisition of Softential Inc, a US-based firm, by the end of this month.

Infotech provides engineering solutions, including product development and life-cycle support, process, network and content to major organisations worldwide.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • For those who are left to survive a war-torn world, let there be peace

    The hunger games have begun, and they have started reaping our children. There is no way around it.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture