Infotech Enterprises, a Hyderabad-based geo-spatial, design engineering and software services and solutions company, witnessed a 27 per cent decline in net profit to Rs 11.96 crore for the quarter ended June 30, 2007 compared with Rs 16.40 crore during the corresponding quarter last year. | |
| Its total income, however, grew 20 per cent to Rs 145.77 crore during the quarter, against Rs 121.32 crore. |
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| "The profit after taxation (PAT) was impacted largely due to translation losses and lesser share of profits from the joint venture (JV) with Hindustan Aeronautics (HAL)," the company stated in a press release on Wednesday. |
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| The company had established a 50:50 JV with HAL during the quarter. The JV would mainly focus on aero-engines, technical publications and anticipated work from various original equipment manufacturers (OEMs) under the offset programmes. |
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