Tata Infotech Q2 net up 317%
By siliconindia | Wednesday, 26 November 2003, 08:00 Hrs
MUMBAI: Tata Infotech has recorded a net profit of Rs 17.09 crore during the second quarter ended September 30, a 316.82 per cent increase over Rs 4.10 crore of the same period last year. The audited net sales for the period under review rose to Rs 142.08 crore as against Rs 103.01 crore in July-September 2002, a company press release said on Tuesday. The company has streamlined its working to serve customers efficiently, helping to enhance profitability in the second quarter, TIL chairman F K Kavarana was quoted as saying. Tata group entity has capitalised Rs 4.31 crore towards new manufacturing facility and Rs 10.74 crore incurred on the development of XML document conversion technology, the release said. The audited net profit and income for the six month ended September stood at Rs 29.12 crore (Rs 2.98 crore in April-September 2002) and Rs 273.83 crore (Rs 198.80 crore), respectively, it said.