IT solutions company GSS America today announced a net profit of Rs 20.67 crore for the first quarter ended June 30 2008, a 12.09 per cent growth over the corresponding quarter year ago.
The company had a net profit of Rs 15.44 crore for the June quarter of FY08, GSS America said in a filing to the BSE.
Revenues of the company rose to Rs 108.55 crore in the June quarter of this fiscal, from Rs 94.88 crore in the previous quarter a year ago.
"I am pleased to announce a strong quarter in terms of revenues and profit growth. The slew of initiatives that we had undertaken, in infrastructure management services, is starting to show positive results," GSS America CEO and Managing Director Bhargav Morepally said.
Further, GSS America has shortlisted a US-based firm, having annual revenue of over $100 million, for acquisition. The company has entered into an agreement to conduct due diligence for the said acquisition.
Shares of the company were trading at Rs 271.35, up 2.03 per cent in the afternoon trade on the BSE.
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