Date:21/01/2005 URL: http://www.thehindubusinessline.com/2005/01/21/stories/2005012101290900.htm

Back Infotech Q3 net at Rs 6 cr

Our Bureau

Hyderabad , Jan. 20

INFOTECH Enterprises Ltd has recorded total income of Rs 65.61crore and a net profit of Rs 5.94 crore for the third quarter ended December 31 as against total income of Rs 47.87 crore and a net profit of Rs 4.13 crore for the corresponding quarter last year.

However, sequentially, the revenues were lower by 4.1 per cent as against Rs 68.43 crore and net profit was also lower by 9.9 per cent compared to Rs 6.59 crore.

For the financial year ended March 31, 2004, the company had recorded total income of Rs 158.27 crore and a net profit of Rs 9.01 crore.

From October 1, 2004, Infotech Aerospace Services Inc, Puerto Rico (IASI) has ceased to be a subsidiary of the company. This follows the acquisition of 51 per cent shareholding in IASI by United Technologies International Corporation (UTIC).