Infotech PAT rises 82% in Q3

Backed by a strong rupee, midsized engineering services company Infotech Enterprises reported 82 per cent increase in its profit after tax (PAT) to Rs 61.83 crore for the quarter ending December 31, 2012, as compared with Rs 33.96 crore during the same period last year.

During the quarter, its revenues grew 14 per cent to Rs 475.1 crore compared with Rs 416.52 crore. In dollar terms, the growth in revenues was 7.3 per cent to $87.6 million from $81.7 million.

Infotech, CMD, BVR Mohan Reddy said the company maintained small revenue growth but robust margins in spite of challenges in Europe and also with Hi-tech vertical. Some of these challenges were market driven and also internal to organisations.

“Markets are showing signs of recovery and actions are being taken to strengthen the internal organisation. We hope to get back to a stronger growth path on revenues in one or two quarters,” he said.

The company’s operating profit was down a few notches to 18.5 per cent from 20.6 per cent. The increase in revenues is reflected in a stronger rupee- Rs 54.25 compared with Rs 51.011 to a dollar during the corresponding period last year.

Its high technology and content segments have seen degrowth of 6.2 and 1.8 per cent respectively. Its aerospace segment remained flat, while its utilities and telecom wing grew 6.6 per cent. The company during the quarter has added 11 customers. The total manpower was 10,134, up from 9,197 last year.

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