3i Infotech announces Q1 results, growth at 6.8 percent
By siliconindia   |   Wednesday, 28 July 2010, 14:59 IST
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3i Infotech announces Q1 results, growth at 6.8 percent
Mumbai: 3i Infotech has announced its Q1 results and the revenue for this quarter was recorded with a growth of 6.8 percent. This Q1 result has been a sequential growth from 632.60 crores in Q4 FY10 to 643.37 crores in the current quarter. Profit before interest depreciation and tax (PBIDT) stood at 5.6 percent. Profit after tax and before minority interest stood at 62.06 crores showing a net margin of 9.6 percent. "Though there has been a noticeable increase in IT spending, cost effective and comprehensive solutions are still a priority for the customers. It has been our constant endeavor to customize our services to keep pace with the changing demand patterns and I am confident that our flexibility will be our driver for growth even in the current competitive environment," said V. Srinivasan, Managing Director & Global CEO, 3i Infotech. Along with the Q1 results, the company has also announced the reconstitution of its board governance committee with Hoshang N. Sinor taking over as the Chairman. Bruce Kogut and Dileep Choksi have been reconstituted as members. In the Fund Raising & Acquisitions Committee, Ashok Jhunjhunwala, Bruce Kogut and Samir Mitter have been designated as members of the committee, headed by Sinor as the Chairman.

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