i-flex solutions has reported a 33% rise in profit after tax at Rs 48 crore for the third quarter ended December 31, 2004 as compared to Rs 36.09 crore in Q3FY04. According to a release issued to the BSE, total revenue has increased 38% from Rs 181.19 crore in Q3-03 to Rs 249.43 crore for the quarter ended on December 31, 2004.