3i Infotech Reports First Quarter Results
3i Infotech, a global provider of IT solutions and one of India’s largest software product companies, today announced its operating results for the first quarter ended June 30, 2010.
Mumbai, India, August 03, 2010 --(PR.com)-- 3i Infotech, a global provider of IT solutions and one of India’s largest software product companies, today announced its operating results for the first quarter ended June 30, 2010.
Financial Highlights
Consolidated results for the quarter ended June 30, 2010
Revenue for the quarter was Rs. 643.37 crores (USD 140.70 Mn), representing a growth of 6.8% from the corresponding quarter of the previous year. On a sequential basis, the revenue grew from Rs.632.60 crores (USD 137.41 Mn) in Q4 FY10 to Rs. 643.37 crores (USD 140.70 Mn) in the current quarter.
Profit before interest depreciation and tax (PBIDT) grew by 5.6% to Rs. 130.32 crores (USD 28.50 Mn) over the corresponding quarter of the previous year. In Q4 FY10, PBIDT was at Rs.128.17 crores (USD 27.84 Mn).
Profit after tax and before minority interest stood at Rs. 62.06 crores (USD 13.57 Mn), representing a net margin of 9.6%.
Earnings per share (EPS) for the current quarter is at Rs. 3.12 against Rs. 4.36 in the same quarter of the previous year. The current quarter EPS is on the expanded capital base arising out of the equity issuances.
Commenting on the results, Mr. V. Srinivasan, Managing Director & Global CEO, 3i Infotech Limited, said, “Though there has been a noticeable increase in IT spending, cost effective and comprehensive solutions are still a priority for the customers. It has been our constant endeavor to customize our services to keep pace with the changing demand patterns and I am confident that our flexibility will be our driver for growth even in the current competitive environment.”
Re-constitution of Board Committees
The Board Governance Committee has been re-constituted as follows:
Mr. Hoshang N. Sinor, Chairman; Mr. Bruce Kogut and Mr. Dileep Choksi as Members
The Fund Raising & Acquisitions Committee has been re-constituted as follows:
Mr. Hoshang N. Sinor, Chairman; Mr. Ashok Jhunjhunwala Mr. Bruce Kogut and Mr. Samir Mitter as Members
About 3i Infotech:
3i Infotech (www.3i-infotech.com) provides software products and IT services for the Manufacturing, Retail & Distribution; Banking, Financial Services & Insurance (BFSI); and Government verticals. The Company's quality certifications include ISO 9001:2008 for BPO, ISO/IEC 27001:2005 for Data Centre Operations and ISO/IEC 20000-1:2005 for Data Centre Management Services. The Company has embarked on re-appraisal under SEI CMM ML 5 for all of its major software development centres in India.
By using its domain knowledge and through continuous investment in technologies, 3i Infotech Limited helps corporations in their businesses through its expertise in enterprise-class software solutions, software services, information security consulting, system integration services, IT infrastructure and Disaster Recovery solutions. 3i Infotech services over 1500 customers in more than 50 countries across five continents.
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Financial Highlights
Consolidated results for the quarter ended June 30, 2010
Revenue for the quarter was Rs. 643.37 crores (USD 140.70 Mn), representing a growth of 6.8% from the corresponding quarter of the previous year. On a sequential basis, the revenue grew from Rs.632.60 crores (USD 137.41 Mn) in Q4 FY10 to Rs. 643.37 crores (USD 140.70 Mn) in the current quarter.
Profit before interest depreciation and tax (PBIDT) grew by 5.6% to Rs. 130.32 crores (USD 28.50 Mn) over the corresponding quarter of the previous year. In Q4 FY10, PBIDT was at Rs.128.17 crores (USD 27.84 Mn).
Profit after tax and before minority interest stood at Rs. 62.06 crores (USD 13.57 Mn), representing a net margin of 9.6%.
Earnings per share (EPS) for the current quarter is at Rs. 3.12 against Rs. 4.36 in the same quarter of the previous year. The current quarter EPS is on the expanded capital base arising out of the equity issuances.
Commenting on the results, Mr. V. Srinivasan, Managing Director & Global CEO, 3i Infotech Limited, said, “Though there has been a noticeable increase in IT spending, cost effective and comprehensive solutions are still a priority for the customers. It has been our constant endeavor to customize our services to keep pace with the changing demand patterns and I am confident that our flexibility will be our driver for growth even in the current competitive environment.”
Re-constitution of Board Committees
The Board Governance Committee has been re-constituted as follows:
Mr. Hoshang N. Sinor, Chairman; Mr. Bruce Kogut and Mr. Dileep Choksi as Members
The Fund Raising & Acquisitions Committee has been re-constituted as follows:
Mr. Hoshang N. Sinor, Chairman; Mr. Ashok Jhunjhunwala Mr. Bruce Kogut and Mr. Samir Mitter as Members
About 3i Infotech:
3i Infotech (www.3i-infotech.com) provides software products and IT services for the Manufacturing, Retail & Distribution; Banking, Financial Services & Insurance (BFSI); and Government verticals. The Company's quality certifications include ISO 9001:2008 for BPO, ISO/IEC 27001:2005 for Data Centre Operations and ISO/IEC 20000-1:2005 for Data Centre Management Services. The Company has embarked on re-appraisal under SEI CMM ML 5 for all of its major software development centres in India.
By using its domain knowledge and through continuous investment in technologies, 3i Infotech Limited helps corporations in their businesses through its expertise in enterprise-class software solutions, software services, information security consulting, system integration services, IT infrastructure and Disaster Recovery solutions. 3i Infotech services over 1500 customers in more than 50 countries across five continents.
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Contact
3i Infotech Limited
M.B. Battliwala
91-22-39145560
www.3i-infotech.com
M.B. Battliwala
91-22-39145560
www.3i-infotech.com
Contact