Essar Group firm AGC Networks' consolidated net profit more than doubled to Rs 19.05 crore for the quarter ended September 30, 2011.
The company had posted a net profit of Rs 8.5 crore for the same period last fiscal.
"We started great number of adjacent practices which is around data, security, convergence and related kinds [of company's business]. All these practices have gone through a gestation period and have really evolved towards giving results," SK Jha, managing director and CEO of AGC Networks, said over a conference call today.
AGC Networks is subsidiary of BPO company Aegis and provides unified communication infrastructure and solution to business organisations.
AGC also saw 98% jump in its revenue for the reported quarter at Rs 257.21 crore from Rs 129.99 crore in the corresponding quarter in FY11.
The company is expanding its business in new geographies, in line with the expansion strategy of its parent company Aegis.
Jha said some of its operations abroad have started giving results while at some places the business is still in gestation period.
"We have increased our global footprints. AGC has opened business in the Middle East, Saudi Arabia and East Africa market. The West Asia and African markets have moved from gestation period and started bearing results," Jha said
He said that company's business is maturing in ASEAN countries and soon it will launch its business in the US. He also said that company has increased operations in the Australian market.
Maximum revenue of AGC came from Indian market, with the domestic market contributing 57.52%.
AGC added 165 people in the company during this quarter.
The company shares today closed at Rs 150.60 a piece, down 2.65% from its previous close at the Bombay Stock Exchange.
