Infinite Q3FY11 revenue grows 43% YoY in USD terms
Infinite Computer Solutions (India) Limited (BSE: 533154, NSE: INFINITE), a global provider of IT Services, Infrastructure Management Services (IMS) and Intellectual Property (IP) Leveraged Solutions, today announced its results for the third quarter of the Fiscal 2010-11, as approved by its Board of Directors.
Consolidated results for the quarter ending December 31, 2010
- Revenue - INR 222.26 crore; (USD 49.21 Million*) YoY growth of 43% in USD terms
- PAT - INR 27.05 crore; (USD 5.99 Million); YoY growth of 36% in USD terms
- EPS for the quarter - INR 6.15
*Average Forex Rate: INR 45.17 = 1 USD
Q3 FY 11 Highlights
Revenue of INR 222.26 Cr. (USD 49.21 Million) for the quarter ended December 31, 2010
- Y-o-Y Growth in USD terms at 43% and in INR terms it stood at 38%;
- Q-o-Q Growth (sequential) is 4.3% in USD terms and 1.3% in INR terms
Operating profit was INR 37.04 Cr. (USD 8.20 Million) for the quarter ended December 31, 2010
- Y-o-Y growth in USD terms at 24% and in INR terms at 20%
- Q-o-Q growth 4.7% in USD terms and 1.7 % in INR terms
Net profit after tax was INR 27.05 Cr. (USD 5.99 Million) for the quarter ended December 31, 2010
- Y-o-Y Growth in USD terms was 36% and in INR terms it stood at 32%;
- Q-o-Q Growth stood at 8.9% in USD terms and in INR terms the growth was 5.8%
Earnings Per Share was INR 6.15 for the quarter ended December 31, 2010
- Q-o-Q growth up by 5.8%; while Y-o-Y growth was 15.1%
We added 3 new clients in Q3
- All our key strategic clients continued to grow in this quarter. Our top client remained steady but as a % decreased by 4.1%; Revenue from our top 10 clients dropped by a marginal 0.8%
- Our top client contributed 29.0% of our revenue. Top 10 clients contributed 91.5% of our revenue
- We have 47 active clients. Out of which on an LTM basis, we have 15 USD 1 mn+ clients, three clients with USD 20mn+ revenue; six clients with USD 5mn+ revenue
- We have made an addition of two more clients to USD 1mn+ revenue clients, which has gone up from 13 in Q2 to 15 in Q3
Others The global headcount increased to 4468 employees from 4178
- Net addition of 290 employees / contractors for the quarter
- Global Attrition rate stood at 12.2%
- Revenue per employee on blended terms was USD 37.2 per hour. Utilization was 82%. This decreased by 2% as compared to Q2 FY 2010-11
We have taken up a new SEZ facility in Bangalore with a total area of approx. 89,000 sq ft., spanning over four floors. Presently we are making a provision for over 1,000 workstations
Commenting on the results, Mr. Upinder Zutshi MD & CEO Infinite Computer Solutions (India) Limited, said, “We had a good quarter with sequential revenue growth of 4% in USD terms and net profit growth of 9% in USD terms. We added three new clients while our engagements with existing strategic clients continue to build on the momentum of the previous quarters. Our focus continues to be on mining existing clients and this has resulted in the number of million dollar clients increasing to 15 this quarter.”
About Infinite Infinite Computer Solutions (India) Limited is a global service provider of Infrastructure Management Services, Intellectual Property (IP) Leveraged Solutions, and IT Services, focused on the Telecom, Media, Technology, Manufacturing, Energy & Utilities and Healthcare industries. Infinite’s footprint spans several countries in four continents, offering onsite, offsite, and near-shore capabilities in major international markets. Infinite has established its presence in most of the large telecom, and IT services markets of the world, with offices at multiple locations in the U.S, U.K, India, Singapore, Malaysia, and China. The Company has also been growing its delivery centers in India at Bengaluru, Chennai, Hyderabad and Gurgaon. www.infinite.com