iflex Solutions consolidated net up 29.97%

By agencies   |   Friday, 29 April 2005, 07:00 Hrs
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MUMBAI:Leading Software company i-flex Solutions Ltd has posted a 29.97 percent increase in consolidated net profit at 2.32 billion for the fiscal ended March 31, 2005 compared to 1.78 billion in the corresponding fiscal.

The board has recommended a dividend of 100 percent ( Five per equity share), subject to the approval of the shareholders at the forthcoming annual general meeting of the company, i-flex informed.

Revenues for the reporting fiscal have increased to 11.38 billion from 7.88 billion in FY-04, it said.

The company has posted a net profit of 1. 38 billion for the fourth quarter ended March 31 compared to 547 million for the quarter ended March 31, 2004. Revenues for the reporting quarter have increased to 3.58 billion from 2.09 billion in Q4-04, it said.

The company further informed that the board, at its meeting held today, has allotted 49,250 ESOP equity shares of the face value of Five each to the applicant employees of the company.

Commenting on the results and outlook, company Chairman & Managing Director Rajesh Hukku said, "We are pleased to announce an excellent quarter with strong growth across or entire portfolio. With our enhanced solution capability, we are well poised to help our customers meet the demands of an increasingly complex and competitive environment."

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