3i Infotech gains on bagging multi-year contract from HPCL

3i Infotech rose 1.67% to Rs 42.60 after the company said it bagged multi-year digital infrastructure managed services contract of Rs 51 crore from Indian state refiner Hindustan Petroleum Corporation Limited (HPCL).

The order value is pegged at approximately Rs 51 crore over the tenure of three years.

3i Infotech's Digital Infrastructure Managed Services (DIMS) comprises of IT Infrastructure and Cloud, which helps clients in optimizing their IT spends.

HPCL has been a longstanding customer of 3i Infotech, with the company serving them primarily in North India. However, under the new contract, the remit would include 3i Infotech taking its service across the country including all HPCL locations and datacenters. Overall, 3i Infotech will manage and support the IT Infrastructure of HPCL, to include offices, refinery, retail units in over 70+ circles across Pan-India. 3i Infotech will look to strengthen their presence in India and in the Oil and Natural Energy sector. The company would be ramping up their recruitment plans and would be hiring close to 240 engineers in this quarter.

3i Infotech's Digital IMS includes data center modernization services, data center managed services (server, network, storage, db, backup, application services), hybrid cloud managed services, digital integrated service desk, EUS management services, end point protection services, unified messaging & collaboration, mobile device management services and virtual desktop services leverage rich multi-domain expertise to build optimal infrastructure setups with 24x7x365 IT support.

3i Infotech has been committed to driving business value across multiple industry verticals. 3i Infotech has emerged as a leading name in propelling the current wave of digital transformation initiatives, with deep domain expertise across BFSI, healthcare, manufacturing, education, telecom, media & entertainment, retail and government sectors. The company has over 5600 employees in 30 offices, 15 countries and across 4 continents. With a digital and cloud-first approach, and a range of IT services and solutions encompassing 5G in Edge Computing, Cognitive AI/ML, Data Science and Analytics and Blockchain, 3i Infotech has successfully transformed business operations of 1,200+ customers across 50 countries. The company has a very strong foothold and client base in geographies like North America, India, Asia Pacific, Middle East and Kingdom of Saudi Arabia.

The company reported a consolidated net profit of Rs 17.11 crore in Q2 FY23 as against a net loss of Rs 23.09 crore in Q2 FY22. Net sales grew marginally to Rs 177.13 crore in Q2 FY23 as compared to Rs 175.82 crore in Q2 FY22.

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