Thinksoft Global posts three-fold jump in net profits

Software testing firm Thinksoft Global today posted three-fold jump in its net profit to Rs 7.44 crore for the quarter ending June 30, 2012.

The net profit grew by 308.7% from Rs 1.82 crore in the same period of last year, the Chennai-based company said in a statement.

"The company's banking practice showed a strong growth of 28% year-on-year with even order flow from all regions. From a geographic perspective, the business contributed by North America grew by 43%, year-on-year to 27.6% driven by business growth from existing customers", Thinksoft Global Chairman and Managing Director A V Asvini Kumar said.

The total income of the company for the reported quarter stood at Rs 41.21 crore against Rs 28.16 crore in the same period last year.

For the financial year ending March 31, 2012, the net profit stood at Rs 11.38 crore. The total income for 2011-12 stood at Rs 121.44 crore.

Thinksoft has presence in New York, London, Frankfurt, Singapore, Bangalore and Chennai.

Shares of Thinksoft Global closed at Rs 79.55 a piece, up by 10% over the previous close on the BSE.