Infotech Enterprises Ltd - Q4 and Annual Results

21 April 2008, 11:22am

Hyderabad, India, April 21, 2008: Commenting on the Fourth quarter FY 08 and Annual results Mr. BVR Mohan Reddy, Chairman and Managing Director, Infotech Enterprises, said, “I am pleased to announce another strong quarter and annual performance. The company has delivered a robust growth performance during the quarter and year under review. Profit before taxes crossed Rs. 100 crores for the financial year.

Our geographies have shown strong sustainable performance. Our German and US subsidiaries have growth rates in excess of 42% and 36% respectively. Our Asia Pacific, India and Middle East contributed to around 10% of total revenues. Our diversified revenue portfolio, both in currencies and geographies, makes us believe that the operating margins are not likely to be impacted any further.

Manufacturing, Utilities and Telecommunications, our key verticals continue to be robust in growth and don’t show any signs of slow down. Our engineering services business contributed to over US$ 100 million to our revenues for the first time in the history of the company. Going forward, we expect to continue to deliver significant growth on the back of increased order intake and high visibility of business in both the verticals.

Our staff strength has grown to over 7000 by March 31, 2008. By inducting some key leaders into the company in the areas of Sales and Marketing, Practice Management and Operations, we are ready for sustained growth rates inspite of the increased base.”

FINANCIAL HIGHLIGHTS

§ Revenue at $ 167.5 Million for the year, Y-o-Y growth of 40% in $ terms. Revenue from Engineering Services crossed US$ 100 million for the full year.

§ Revenue at Rs. 6,741.3 Million for the year, Y-o-Y growth of 24.3% in Rupee terms.

§ Operating profits at 18.1% for the year. Profit Before Tax (PBT) crossed Rs. 100 Crores for the financial year.

§ Revenue at $ 46.6 Mil for Q4, sequential growth of 6.4% in $ terms.

§ Revenue at Rs. 1874.0 Mil for Q4, sequential growth 6.0% in Rupee terms.

§ Operating profits at 18.2% for the quarter, improvement of 10 basis points over Q3.

§ All Wholly Owned Subsidiaries have achieved commendable revenues and profits. IEGmbH, Germany, achieved a growth in revenue of 42.2% Y-o-Y. IEAI, USA, achieved a revenue growth of 36.2% Y-o-Y. Asia Pacific-India-Middle East contributed to around 10% of total revenues.

§ Business momentum and environment continues to be strong for key verticals – Manufacturing, Utilities and Telecom.

§ Net addition of 1890 people during the year. Manpower crosses 7000 mark.

ABOUT INFOTECH ENTERPRISES LIMITED
Infotech Enterprises Limited (IEL) is a global IT Services provider offering Engineering Design Services, Geospatial Information Services and IT Services. Over the last 16+ years Infotech has achieved in gaining expertise in Engineering Design Services in – Aerospace, Locomotives, Marine, Automobiles and other Industrial products. Geospatial Solutions for Telecommunication, Utilities and Government and Software Services.

Over +7000 highly skilled professionals in Infotech work onsite, offshore and near shores to provide high quality and value added services and solutions for companies in several industry sectors. Infotech Enterprises is an SEI CMMi Level 5 company, and certified to ISO 9001:2000, ISO 27001 and AS 9100 standards. Infotech Enterprises is a public listed company and has attracted globally reputed equity investors like Pratt & Whitney and General Atlantic Partners.

www.infotech-enterprises.com

Geo: International