Financial Daily from THE HINDU group of publications
Thursday, Apr 20, 2006
Financial Daily from THE HINDU group of publications Thursday, Apr 20, 2006 |
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Info-Tech
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Financial Performance Corporate Results - Software 3i Infotech net up 79% Our Bureau
Bangalore , April 19 3i Infotech Ltd has reported 133 per cent increase in its consolidated net profit for the fourth quarter and 78.8 per cent increase for the year ended March 31, 2006. The growth was due to aggressive sales and marketing, and cost control, according to Mr V. Srinivasan, Managing Director and CEO at 3i Infotech. "This has ensured that while we have grown substantially, our costs have been maintained at reasonable levels. This performance gives us the ability to look to the year ahead with growing confidence," he said. The company's guidance for the next fiscal anticipates revenue growth of 25-30 per cent and earnings-per-share between Rs 13 and Rs 13.50. Net profit leapt to Rs 17.51 crore in Q4-06, from Rs 7.5 crore reported for the same year-ago quarter. Total income for the quarter grew 45.4 per cent to Rs 216 crore, up from Rs 148.5 crore. Profit before interest depreciation and taxation amounted to Rs 27.1 crore (Rs 15.1 crore). Revenue for the year was Rs 424 crore, up 45 per cent over the previous year (Rs 292 crore). Profit before interest depreciation and tax grew 81 per cent to Rs 92 million, representing a PBIDT margin of 21.7 per cent, as against 17.4 per cent for the previous year. Profit after tax, at Rs 577 million, represented a net margin of 13.6 per cent, as against 11 per cent in the previous year. Software products contributed 46 per cent of the revenues for the year and 48 per cent in the quarter. The company made good inroads in the US with its insurance product and into Central Asia and the Far East markets with banking products, said a statement. The company's stock rose by Rs 2.55 on BSE on Wednesday to close at Rs 187.05 rising 1.38 per cent over Tuesday's closing price.
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