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Infinite Computer Q4 revenues up 15%
By siliconindia staff writer
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Tuesday, 18 May 2004, 19:30 IST
BANGALORE: Infinite Computer Solutions, a global provider of high quality IT solutions, posted revenues of 
85 crore for the fourth quarter of the financial year 2003-04. Infinite, one of the top 20 IT Services exporters from India registered a growth of 15 percent compared to the fourth quarter of the last financial year 2002-03.
Infinite's profit before tax increased to 12 crore for the quarter ended March 31, 2004, an increase of 18 percent year-on-year. Offshore projects accounted for 19 percent of the fourth quarter revenues, while onsite projects roped in 81 per cent of the revenues. Revenue for the financial year 2003 - 04 stood at Rs 317.25 crore. EBITDA figures stood at Rs 38 crore. The revenue increased by 33 per cent compared to previous year. EBITDA increased by 64 percent.
Commenting on the results, Upinder Zutshi, COO Infinite Computer Solutions said, "I am delighted to close the year FY04 on a high note. As a young, dynamic and ambitious company, we set challenging targets for ourselves, but to be able to achieve and surpass each one of them has been truly outstanding. With the upbeat mood within Infinite and in the technology industry, I'm quiet confident that we will far exceed our target of $ 90 million for FY05," Zutshi added.
Infinite Computer Solutions will look at aggressive geographic expansion in FY05. The company will continue to focus on growing the domestic market to leverage its unique Global Delivery Model. Infinite will continue to invest in human resources and infrastructure to support its growth plans for the year.
85 crore for the fourth quarter of the financial year 2003-04. Infinite, one of the top 20 IT Services exporters from India registered a growth of 15 percent compared to the fourth quarter of the last financial year 2002-03.
Infinite's profit before tax increased to 12 crore for the quarter ended March 31, 2004, an increase of 18 percent year-on-year. Offshore projects accounted for 19 percent of the fourth quarter revenues, while onsite projects roped in 81 per cent of the revenues. Revenue for the financial year 2003 - 04 stood at Rs 317.25 crore. EBITDA figures stood at Rs 38 crore. The revenue increased by 33 per cent compared to previous year. EBITDA increased by 64 percent.
Commenting on the results, Upinder Zutshi, COO Infinite Computer Solutions said, "I am delighted to close the year FY04 on a high note. As a young, dynamic and ambitious company, we set challenging targets for ourselves, but to be able to achieve and surpass each one of them has been truly outstanding. With the upbeat mood within Infinite and in the technology industry, I'm quiet confident that we will far exceed our target of $ 90 million for FY05," Zutshi added.
Infinite Computer Solutions will look at aggressive geographic expansion in FY05. The company will continue to focus on growing the domestic market to leverage its unique Global Delivery Model. Infinite will continue to invest in human resources and infrastructure to support its growth plans for the year.