3i Infotech reports third quarter results

Revenue grows 5.3% to Rs 1,934.02 crores; profit after tax to Rs. 190.17 crores for nine months of fiscal 2010-11

3i Infotech, a global provider of IT solutions, one of India’s leading IT companies and among the top 3 Indian Software Products Companies*, today announced its operating results for the third quarter ended December 31, 2010.

FINANCIAL HIGHLIGHTS

Consolidated results for the nine months ended December 31, 2010:

• Revenue for the nine months ended December 31, 2010, is Rs.1,934.02 crores, a growth of 5.3% over the corresponding period of the previous year.
• Profit before depreciation, interest and tax for the nine months is Rs.393.99 crores, a growth of 5.1% over the corresponding period of the previous year.
• Net profit for the nine months ended December 31, 2010, is Rs.190.17 crores, an increase of 4.7% over the corresponding period of the previous year.

Consolidated results for the quarter ended December 31, 2010:

• Revenue for the quarter ended December 31, 2010 is Rs.645.31 crores, an increase of 7.2% over the corresponding period of the previous year.
• Profit before depreciation, interest and tax for the current quarter is Rs.130.63 crores, a growth of 4.3% over the corresponding period of the previous year.
• Profit after tax for the current quarter is Rs.64.36 crores, an increase of 4.7% over the corresponding period of the previous year.

Commenting on the results, Mr. V. Srinivasan, Managing Director & Global CEO, 3i Infotech Limited, said, “While on the one side we are driving sales across geographies and segments we have taken various steps in improving operational efficiencies. With these steps we believe our “Go to market” strategy gets strengthened on one side and our delivery is geared to keep pace with sales growth”.