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Infotech Enterprises net profit up
HYDERABAD: Infotech Enterprises announced improved results for the second quarter with consolidated Infotech group revenues up by 50 per cent at Rs. 68.43 crores against Rs. 45.40 crores, and the net profit at Rs. 6.60 crores against Rs. 2.50 crores. Sequential growth in revenues was up 18 per cent and net profit 39 per cent. Individually, Infotech Enterprises showed a growth of 21 per cent to Rs. 38 crores (Rs. 31 crores), and the net profit to Rs. 6 crores (Rs. 3 crores). Sequentially revenues were 12 per cent up and net profit 51 per cent. During the quarter the company divested 51 ownership in its Puerto Rican subsidiary, Infotech Aerospace Services Inc, to its nodal customer United Technologies International Corporation. — Our Special Correspondent
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