Infotech net up 12% at Rs 69.39 cr

Revenues increased by 21.7% to Rs 578.37 cr from Rs 475.11 cr in same period

Hyderabad-based Infotech Enterprises Limited, a provider of engineering and data management solutions, has posted a 12.3% rise in net profit at Rs 69.39 crore for the quarter ended December 2013, compared to a profit after tax of Rs 61.82 crore in the corresponding quarter previous year.

Revenues increased by 21.7% to Rs 578.37 crore from Rs 475.11 crore in the same period.

"After four quarters of flat business, we saw significant growth in our business for this quarter", Infotech chairman and managing director, BVR Mohan Reddy, stated adding that the overall growth was driven by the growth in top 20 customers.

Reddy, however, said that the company's margins remained flat owing to significant investments it was making in future sustainability and growth of business, which included both additional manpower and one time initiatives.