Infotech Enterprises Q1 Results

23 July 2008, 11:41am

Hyderabad, July 23 2008 - Commenting on the First quarter FY 09, Mr. BVR Mohan Reddy, Chairman and Managing Director, Infotech Enterprises, said, “I am pleased to announce another strong quarterly performance. The company has delivered a robust growth performance during the quarter under review. Revenues crossed Rs. 2 billion for the quarter.

Our geographies, especially North America, have shown strong sustainable performance. Our order inflow is in line with our budgets and we do not see any significant effect of US slowdown on our order inflow. We continue to make in-roads in the Asia Pacific, India and Middle East region. 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. We made some key wins in the Aerospace and Utilities domains during the quarter. 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.”

Highlights

- Revenue crosses Rs. 2 billion (Rs. 200 Crores) for the quarter, Y-o-Y growth of 35% in Rupee terms.
- Revenue at $ 48.1 Million for the quarter, Y-o-Y growth of 33% in $ terms.
- Operating profits at 18.4% for the quarter, Y-o-Y improvement of 60 basis points.
- Net Profit after Tax at Rs. 245.6 million, an improvement of 89% Y-o-Y in rupee terms.
- Net Profit after Tax at $ 5.9 million, an improvement of 87% Y-o-Y in $ terms.
- All Wholly Owned Subsidiaries have achieved commendable revenues and profits.
- Business momentum and environment continues to be strong for key verticals – Manufacturing, Utilities and Telecom. We continue to make in-roads in the Asia Pacific, India and Middle East region.
- Net addition of 298 people during the quarter.

www.infotech-enterprises.com

Geo: International