Northgate Technologies, a Hyderabad-based technology, e-commerce and online advertisement solutions provider, reported a net profit of Rs 20.21 crore for the quarter ended September 2007, when compared with Rs 13.19 crore during the corresponding quarter last year, reflecting a growth of 53.22%.Revenues rose 104.96% to Rs 130.52 crore during the quarter under review, compared with Rs 63.68 crore in the same period last year. Its basic earnings per share (Rs 10 each) stood at Rs 6.12 on a paid-up equity share capital of Rs 33.15 crore, as against Rs 4.77 on a paid-up capital of Rs 13.96 crore."The online advertising industry has been growing at a tremendous pace, which is expected to touch Rs 700 crore this year, compared with Rs 200 crore last year. The growth in our topline and bottomline this quarter was in line with this market trend. Beside, our VoIP-based internet TV Globe7, which was launched last year, has been contributing significantly to our revenues, quarter-on-quarter," Anil Singh, CFO, Northgate, told Business Standard.
