Enterprise data services company Tulip Telecom today reported a 18.8% decline in net profit at Rs 67.1 crore for the quarter ended March 31, 2012 compared to the year-ago period.
This is against a net profit of Rs 82.7 crore registered in the January-March 2011 quarter, Tulip Telecom said in a statement.
The company's net sales, however, increased 3.7% to Rs 638 crore in the reported quarter from Rs 661.7 crore in the same quarter last fiscal.
Tulip's net profit for the 12 months ended March 31, 2012 increased 1.1% at Rs 309.7 crore compared to Rs 306.4 crore in the previous fiscal.
With this, the company's total revenues for the 12 months ended March 31, 2012 stood at Rs 2,705.1 crore, up 15.1% from Rs 2,351.1 crore in FY11.
"Our focus for FY'13 will remain on strengthening our Managed Services portfolio leveraging Tulip's strong presence in the data center space, while the fibre-based data connectivity business continues to strengthen with an expanded product and service offerings," Tulip Telecom CMD H S Bedi said.
Also, the growing interest and needs of the government and BFSI sectors for end-to-end Information Communication and Technology services, these sectors are more likely to provide an impetus to our performance in the coming quarters, he added.
In a separate filing to the BSE, the company said its Board has approved the extension of its financial year.
"Subject to the approval of the Registrar of Companies, Delhi and Haryana, the Board of Directors has approved the extension of financial year from 12 months to 18 months thereby making the fiscal ending on September 30, 2012," the filing said.
Shares of the company closed at Rs 87.25 a piece, up 5.25% from its previous close on the BSE.