Infotech Q4 net profit up 89% to Rs 69.85 cr

Infotech Enterprises Limited witnessed an 89 per cent growth in its net profit to Rs 69.85 crore for the fourth quarter ended March 2012, as compared with Rs 36.98 crore in the corresponding quarter last year. Revenues touched Rs 417.35 crore, as against Rs 325.83 crore, an increase of 28 per cent.

“In spite of the challenges in the global economy, we posted robust growth and higher profits because of customer centricity and long-term growth strategy,” BVR Mohan Reddy, chairman and managing director, told mediapersons.

For the full year, the company reported a net profit of Rs 161.38 crore, as against Rs 139.69 crore in the previous year, registering an increase of 15.5 per cent, while revenues grew 30.7 per cent to Rs 1,553.13 crore, as compared with Rs 1,188 crore.

Reddy said the company had been realigned into four business units – aerospace, heavy equipment, transportation and hitech, utilities and telecom and content – effective April 1, 2012, to get a better focus for its target markets and accelerate growth in those respective segments.

“Each of these will become a quarter billion-dollar unit in the next three years,” Reddy said.

Its operating margin was at Rs 270 crore for the 2011-12 financial year, a 50 per cent growth over FY11.