Tulip IT net up 110%

BS 200 Scorecard

Strong customer acceptance helped data communication services provider Tulip IT Services post 110 per cent year-on-year increase in net profit in the second quarter ended September 30 to Rs 20.2 crore.

The revenues of the company during the quarter were up 68 per cent to Rs 185.21 crore. "The growth has been driven by greater customer acceptance of the company's offerings," H S Bedi, chairman and managing director of Tulip, said, adding that the companies were gradually shifting to wireless for the last-mile connectivity.

Tulip, which got national long distance licence in the September quarter, will now use it to offer its services in cities all over India. Earlier, it was using the licence for internet service providers only for connectivity between cities.

The company currently offers services at 550 locations and by the end of this year the number would go up to 800, Bedi said. The company has also applied for international long distance telephony licence that would help it provide data connectivity services globally