Infotech Q2 revenue, net up

By agencies   |   Thursday, 20 October 2005, 07:00 Hrs
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HYDERABAD: Infotech Enterprises Ltd has recorded a total income of $1.87 million and a net profit of $0.21 million for the second quarter of the current financial year, as against $1.55 million and $0.15 million respectively, in the corresponding quarter last year.

This has reflected a growth of 20.4 percent in revenues year-on-year (YoY) and 46.4 percent in net profit. Operating revenues were increased by 5.3 percent and net profit by 11.7 percent.

Announcing the results the company’s Chairman and Managing Director B V R Mohan Reddy said: “For the Q2-06, our profitability, and operating margins were increased by 200 basis points compared to the preceding quarter. We won several major contracts, including a five-year engineering design agreement with Alstom Transport and a contract from the Dutch telecom service provider, KPN Telecom.”

The company established a new U.S. office at Rockford, to focus on technical publications.

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