| 3i Info Q2 net up 86% at Rs 43cr |
| BS Reporter / Mumbai October 25, 2007 |
| Focus on the domestic market and the startegy of acquiring small companies providing niche capabilty helped 3i Infotech report an 86% increase in net profit at Rs 43 crore for the second quarter ended September 30, 2007 when compared with Rs 23.1 crore in Q2FY07. Revenue at Rs 283.9 crore was up 90.7% from Rs 145.02 crore in the corresponding quarter of the last fiscal. Sequentially, the net profit was up 6.6% from Rs 40.3 crore and revenue increased 7.4%. V Srinivasan, managing director & CEO, 3i Infotech, said: "The results are a clear demonstration of our capability to sustain growth. This is also a reiteration of our belief that growth, to be sustained, has to be balanced - a balance in offerings and across geographies. We will continue with this growth model complemented by strategic acquisitions." The company has revised its guidance for financial year 2008, and now expects to end the year with revenue of Rs 1,150-1,250 crore and profit of Rs 165-175 crore. The company had acquired US-based J&B Software and its subsidiaries for $25.25 million during the quarter ended September 30, 2007. 3i Infotech is planning to tap J&B |
