Date:22/04/2005 URL: http://www.thehindu.com/2005/04/22/stories/2005042204642101.htm

Business - Briefly

Infotech net at Rs. 27 crores

HYDERABAD: Infotech Enterprises has reported consolidated revenues of Rs. 257 crores (Rs. 187 crores) and a net profit of Rs. 27.38 crores (Rs. 9 crores) for the year ended March 31, 2005. However, the net profit of Rs. 27.38 crores includes Rs. 2.46 crores profits from divesting a majority stake of 51 per cent in its Puerto Rican subsidiary, Infotech Aerospace Services Inc (IASI) to United Technologies group company. For the quarter ended March 31, 2005, revenues were Rs. 65.17 crores, flat when compared to the third quarter's Rs. 65.61 crores. The net profit was, however, higher sequentially at Rs. 7.64 crores (Rs. 5.94 crores). Including profits from sale of IASI, the net profit was Rs.8.92 crores (Rs.7.12 crores).