Northgate net up 22% at Rs 22.43 cr

Northgate Technologies, a Hyderabad-based technology, e-commerce and online advertisement solutions provider, clocked a net profit of Rs 22.43 crore for the first quarter ended June 30, 2008, as against Rs 18.37 crore, a year-on-year growth of 22 per cent.

Revenues rose 47.57 per cent during the quarter under review to Rs 173.5 crore, as against Rs 117.57 crore in the same period a year ago.

"The increased revenues and bottomline were triggered by significant monetisation all our three online properties – www.globe7.com, www.bharatstudent.com and www.ziddu.com – both in India and China," Anil Singh, chief executive officer of Northgate, said.