Infotech net up 82%

City-based Infotech Enterprises Limited reported an 82 per cent rise in net profit to Rs 61.82 crore for the third quarter ended December 31,2012, compared with a profit after tax of Rs 33.96 crore accrued during the same quarter in the previous year. Total income rose 14.1 per cent to Rs 475.11 crore from Rs 416.52 crore in the same period.

“We had a stable Q3. In spite of challenges in Europe and also with hi-tech vertical, we maintained a small revenue growth and robust margins,” Infotech chairman and managing director, BVR Mohan Reddy, said.

According to Reddy, markets are showing signs of recovery and actions are being taken by the company to strengthen internal organisation. “We hope to get back to a stronger growth path on revenues in the next one to two quarters and the long-term business prospects remain strong,” he added.

The company provides engineering solutions to major organisations.