Infotech Enterprises PAT rises 12 pc to Rs 69.4 cr in Oct-Dec

Engineering solutions provider Infotech Enterprises today said its profit after tax rose by 12.3 per cent to Rs 69.4 crore for the quarter ended December 31, 2013, against Rs 61.8 crore in the same quarter last year.
Revenues for the quarter under review rose by 22 per cent to Rs 578 crore compared to Rs 475 crore during the October- December quarter previous year, the company said in a release.
After four quarters of flat business, the company saw significant growth in this quarter as all the four business units grew, three of which recorded the highest ever quarterly revenue, company's Chairman and Managing Director BVR Mohan Reddy said.

"Our margins were flat owing to significant investments that we are making in future sustainability and growth of business, which include both additional manpower and one time initiatives. We are seeing increasing traction and spend from our customers across the world," Reddy said.
"While overall growth is driven by the growth in top-20 customers, I am happy to note that this is across industries and the customer base. Future looks promising as reflected in current order backlog and pipeline. We are confident of a stronger H2 and equally strong FY 15 on revenue, operating margins and net profit," he said.

As many as 11 customers were added during the quarter -- 7 in ENGG and 4 in Utilities, Telecom and Data Transformation and Analytics (UT & DA).
Infotech shares closed at Rs 346.85 up 4.73 per cent over previous close on BSE.