i-flex solutions Q3 net profit dips

By SiliconIndia   |   Friday, 30 January 2004, 08:00 Hrs
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MUMBAI: i-flex solutions ltd, IT solution provider to the financial service industry, has registered a consolidated net profit of Rs 35.64 crore for third quarter ended December 31, 2003, reports PTI.

The company's consolidated revenue as per Indian GAAP for the reporting quarter stood at Rs 208.35 crore, i-flex said in a release on Friday.

For the nine months, the consolidated net profit and revenues were Rs 124.1 crore and Rs 578.81 crore respectively.

On a standalone basis, the company has posted a drop in net profit at Rs 36.11 crore (Rs 52.69 crore in Q3 of last year). Total income has increased from Rs 152.15 crore to Rs 181.19 crore for the quarter ended on December 31, 2003.

i-flex solutions CMD Rajesh Hukku said, "we are experiencing better traction in the advanced markets and with our capability to address complex challenges relating to larger financial institutions has grown."

In the third quarter, i-flex acquired SuperSolutions Corporation, a specialised consumer lending solutions provider.

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