i-flex net slips 33% to Rs 37 crore

i-flex solutions' net profit has slipped 32.62 per cent to Rs 36.93 crore as compared with Rs 58.82 crore in the corresponding quarter of the previous year.

Consolidated revenues are up 21.73 per cent at Rs 213.43 crore (Rs 175.29 crore). Operating profit stands at Rs 48.11 crore (including an extraordinary item of Rs 7 crore), down 23.29 per cent from Rs 62.72 crore.

Profits before tax were down 14.13 per cent at Rs 55.25 crore. Provision for tax increased 231.46 per cent at Rs 18.33 crore. i-flex's net profit in the nine months ended December, 2003 stands at Rs 122.00 crore and the revenue stands at Rs 591.05 crore.

The company posted operating profit of Rs 150.39 crore. Aforementioned figures are taken from a consolidated income statement including i-flex solutions and its subsidiaries as per US GAAP.