Banking solutions provider 3i Infotech today said its consolidated net profit stood at Rs 86.75 crore for the June quarter ended June 30, 2009.
The company had a net profit of Rs 58.65 crore in the same quarter last year, 3i Infotech said in a filing to the Bombay Stock Exchange.
"Figures for the previous period are not comparable in view of interalia acquisition of Regulus Group effective June 2008," the filing added.
Net sales rose to Rs 597.76 crore in the latest quarter, as against Rs 468.47 crore in the same quarter previous fiscal.
"We have been able to maintain a steady pace inspite of the economic sentiment across the world thanks to our de-risking strategy of diversifying our portfolio and entering emerging markets," 3i Infotech Managing Director V Srinivasan said.
On the standalone basis, the company has posted a net profit of Rs 48.04 crore in the quarter ended June, as compared to Rs 37.75 crore in the same period last year.
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In a separate filing to the BSE, the board of directors have approved to raise Rs 500 crore by private placement of shares with qualified institutional investors.
The proposal is subject to the shareholders approval, the filing added.
Shares of 3i Infotech today closed at Rs 78.85 on the BSE, down 2.89 per cent from its previous close.