Northgate Tech net jumps 61.5%

Hyderabad-based technology and internet telephony services provider Northgate Technologies saw a 61.56 per cent rise in net profit at Rs 18.37 crore for the quarter ended June 30 compared with Rs 11.37 crore during the corresponding quarter last year on a consolidated basis. Net revenues improved to Rs 117.57 crore (Rs 46.91 crore), up 150 per cent.

"Growth in business from our patent-pending voiceover internet protocol (VoIP)-powered TV, Globe7, and the online adverting exchange Axill contributed significantly to net profit and net income during the quarter," Anil Singh, chief financial officer of Northgate, said.

Northgate had launched Globe 7 last year. Its Chinese version was launched this month and over 2 million downloads were registered within 20 days of its launch.

Basic earnings per share for the quarter stood at Rs 11.13 (Rs 8.33), while paid-up equity share capital was at Rs 16.64 crore (Rs 13.96 crore).